6.16 Clear Breeze Midday Gold Analysis

After geopolitical tensions eased, driving a phase of rebound in gold prices, the market is now waiting for statements from Federal Reserve officials, and overall trading has become more cautious. “Duo-take” profit positions have been consolidated for liquidation, which has put some pressure on gold prices during the midday. The outlook is likely to keep a short-term range-bound oscillation, so do not chase highs blindly.

From a technical perspective, daily indicators are in an overbought state, and the hourly Bollinger Bands are beginning to tighten. The overhead resistance zone is 4330-4360, and the core support is 4280. If this support is broken, the rebound trend in this round will weaken, and the downside targets will look toward 4260 and 4240. Going forward, trading can be planned around the box (range) area.

Trading reference: go long near 4300-4310 (Duo), target 4350-4360.