6.9 Gold Analysis

The rally to 4353 was quickly followed by a sharp pullback, breaking below the middle band of the Bollinger Bands. The current price of 4328 is below the middle band, which has formed short-term strong resistance. After the Bollinger Bands flattened and started to open, there are signs of narrowing downward. The upper band at 4348.61 and the lower band at 4326.07 form a short-term consolidation zone. The support at the lower band is close to being broken, and the bearish momentum continues to be released. No effective golden cross signal has appeared yet, and the rebound momentum is lacking, making the short-term bullish rebound weak.

On the fundamental side, there are no sudden risk aversion events supporting gold prices. The US dollar index and US Treasury yields have recently rebounded slightly, indirectly suppressing precious metal prices and further weakening gold's upward momentum.

Attention should be paid to the resistance zone of 4337-4348. If the price cannot return above the middle band of the Bollinger Bands, it is likely to continue downward, testing the previous low support at 4320-4315. Only if the price increases volume, stabilizes above the middle band, and breaks through the upper band resistance, accompanied by capital inflow signals, can the short-term decline be reversed and a recovery trend begin.

Operation suggestion: 4270-4300 range, target 4300-4350. $BTC $GT $SOL #