6.12 Qingfeng Midday Gold Analysis



Based on the 4-hour cycle trend, the market is currently in an overextended rebound phase. Rebound momentum meets resistance and is being held back, and the broader trend led by the Kumo has not changed.

The Kumo has gradually retreated from 4541, dropping to 4024 before launching a technical rebound. However, the Kumo channel remains intact; the highs and lows continue to move downward. This suggests that the current rebound is only a phase of corrective repair, not a reversal of the trend.

In the rebound phase, trading volume has not seen any clear expansion, reflecting that the bulls’ follow-through strength is insufficient. Resistance remains strong in the 4230 to 4260 area. If this range cannot be broken, the price action may return to weakness and probe lower again.

Trading reference: Go long on the Kumo at 4230-4240, with a target of 4170-4150.
GLDX-0.89%
PAXG-1.92%
XAUUSD-1.81%
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