June 12 Evening Market Trend Analysis Strategy:

After overnight gold price bottomed out at 4024, it rebounded strongly. In the evening, the market continues to range-bound and consolidate at high levels. The rebound and recovery momentum for the short term has somewhat weakened. The bearish trend on the larger timeframe remains unchanged. For evening operations, the main approach should be based on range trading.

From the market outlook: the current price is consolidating narrowly around 4200. The 1-hour Bollinger Bands are tightening/contracting. The price has pulled back toward the Bollinger middle band. There is clear pressure in the 4245-4250 range above. Short-term support is at 4170-4180 below. The moving-average system has turned upward, but bullish momentum is slowing down. After being pressured at higher levels, a technical pullback occurs. Overall, this is a rebound and recovery after a sharp drop, and no reversal signal has formed yet.

On the news front: easing tensions between the US and Iran has led to a decline in risk-averse sentiment. Coupled with US high inflation data boosting expectations for further rate hikes, the US dollar and US Treasury yields remain at high levels, which limits the room for gold to rebound. The short-term sideways oscillation pattern is expected to continue.

Suggestions

- Short at 4230-4260, target 4200-4180; if it breaks down, further target 4150;
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- A pullback to 4170-4190 that holds and stabilizes can be used for a short-term long; target 4220-4240, and if it breaks above 4250, look for upside.

⚠️ Note: The above ideas are for reference only and do not constitute any investment advice!
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