June 8 Evening Gold Four-Hour Thinking Analysis Strategy:

After the market probed the day’s low and then stabilized, it entered low-level consolidation and range trading. Although the bearish trend slowed during the evening, the overall downward channel remains unchanged. Price is running weakly in low-range oscillation; in terms of trading, the main approach is to follow the trend and look to sell highs.

Intraday Market Review: During the day, gold price dipped to around 4268 and then stopped falling to stabilize. A short-term, small rebound and corrective move followed, and the current price is around 4330, maintaining weak range-bound oscillation. From the 4-hour perspective, the Bollinger Bands are opening downward, and price is under pressure below the Bollinger middle band. Although there is a slight recovery and rebound, it has never been able to break through the resistance formed by the MA5 and MA10 moving averages. The bearish structure has not fundamentally changed. Overall, the evening is mainly weak and range-bound.

News Perspective: The negative sentiment caused by the Non-Farm data exceeding expectations continues to ferment. The US Dollar Index remains at high levels. Market expectations for Fed rate cuts continue to cool down. Even institutions such as Goldman Sachs have adjusted their rate-cut expectations. In the short term, gold is unlikely to change its pressured situation; rebounds are more of a technical correction.

Trading Strategy:
Sell short at 4330-4348, target 4330-4280. If it breaks through, look to 4260.

Note: This thinking is for reference only and does not constitute any investment advice.
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