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$XAU 6.14 Morning Old Huang's Thoughts
Yesterday, on the 1-hour timeframe, a correction rhythm with a slight upward bias emerged, with overall fluctuations concentrated near the middle band of the Bollinger Bands, touching a high of 423 and a low of 421. After touching the support, it stabilized and rebounded. As of now, it is at 423, with a slight intraday gain of about 0.24%.
The upper band of the Bollinger Bands continues to be pressed downward, combined with cautious capital absorption. There is obvious selling pressure above, and when testing the upper band, the volume is insufficient. The market lacks sustained upward momentum from additional funds, and the support below has limited upward potential. Overall, it remains in a high-level oscillation stage after breaking upward, so the probability of a short-term correction is higher.
In summary, look for a dip to 420-421 today, and a rally to 426-427.