Wednesday, June 17th Gold Morning Outlook

Early morning Federal Reserve signals a dovish stance, lowering expectations for interest rate cuts this year.
U.S. Treasury yields and the dollar move higher in tandem.
The non-yielding precious metals lose short-term appeal.
Gold prices surged overnight but faced resistance and pulled back.
In the early session, it fluctuated narrowly around $4,344.
Technical analysis shows a long upper shadow on the daily candle,
Short-term moving averages shift from support to resistance,
Bullish recovery structure shows signs of loosening;
Four-hour indicators retreat from overbought territory,
MACD's bullish red bars continue to shorten,
Bollinger Bands are narrowing,
The market enters a range-bound consolidation,
The volume and price pattern of rising with decreasing volume and falling with increasing volume also confirm that current bulls lack strength,
This rally is only a rebound from oversold levels and has not formed a new bullish trend.
Short-term support is at $4,350,
Medium-term key support is at $4,240-$4,250,
A break below the body would end this rebound;
Resistance above is concentrated at $4,370-$4,400,
Overlapping moving averages and previous high positions create resistance,
Only a volume-supported breakout can restart the upward trend.
Overall, the market is oscillating weakly,
No clear trend opportunity at the moment,
Not recommended to chase longs at high levels,
A rebound to resistance zones with slow gains can be lightly traded for a pullback,
If support is tested and stabilizes, consider shorting on dips,
Always implement stop-loss risk management.
Trading strategy: go short on rallies around $4,350-$4,370,
Target $4,300,
Break below targets $4,270,
If not broken, then $BTC reverse to long.