6.10 Gold Midday Review: Bears Continue to Extend Downward, Weak Market Pattern Hard to Change

Market Recap: Overnight gold prices continued to fall, slipping back from pressure near 4330. During the day, the low touched 4172. Gold is currently trading around 4177, and the weak trend after the non-farm payrolls plunge has been further reinforced.

Trend Analysis: Technically, on the 1-hour cycle, the moving averages are aligned bearishly. Price continues to face pressure below MA5/10/20, while the KDJ indicator is running at low levels. On the 30-minute cycle, price is clearly constrained by the moving averages; the KDJ dead cross is diverging, and rebound momentum has become exhausted. Resistance is at 4200–4216, while support is at 4172 and 4150—bear control is clear.

Trader Tips: Keep a “high-short” mindset during the midday. Consider opening shorts in batches around 4195 and 4215, targeting 4175 and 4150. Near 4170, you may take a small-position short-term long for quick in-and-out. Make sure to set your stop-loss and strictly control risk. Before the CPI data is released tonight, it is recommended to reduce positions to avoid the risk of data-driven volatility.

Disclaimer: The above analysis is for reference only and does not constitute investment advice. The market carries risk; enter with caution.