6.10 Afternoon Gold Market Analysis

Today, the entire white trading session saw gold continue its weak downward trend, and during the midday phase, after the price fell to a low point, it entered a narrow range of oscillation. Currently, the market bears hold an absolute advantage, and overall trading should primarily follow the trend to position for short positions!

Market review: Throughout the day, gold prices repeatedly declined, continuously hitting short-term lows. After briefly touching the 4172 level, the decline paused. Currently, quotes are fluctuating slightly around 4218. From the one-hour technical chart, the Bollinger Bands are diverging downward overall, and the gold price remains under pressure below the 4257 midline. Short-term multiple cycle moving averages are aligned to form resistance, showing a very clear bearish trend. The short-term technical rebound space is relatively limited!

Trading reference: If the price rebounds to the 4220-4240 resistance zone, consider setting up short positions. The short-term target is around the 4180 support level; if this level is effectively broken downward, it can further decline toward 4150 and below! #黄金 $XAUT