6.17 Mu Yun Evening Gold Analysis

In the short term, the 5-day and 10-day moving averages are converging and leveling off, with gold prices fluctuating around the moving averages. The 20-day moving average at 4305 is an important medium-term support. The overall bullish arrangement of the moving averages has not changed despite the V-shaped reversal pattern formed by the 4024 low point. However, short-term upward momentum is weakening, and the market has entered a high-level sideways consolidation phase.

After the rebound, the candlesticks mostly show small-bodied sideways movements, with the market fixed in a 4300-4370 range. Resistance is at 4360-4370, and support at 4300 remains effective. Bulls and bears are temporarily balanced, awaiting the Federal Reserve rate decision in the early morning to break the range.

The market generally expects the rate to remain unchanged this time. The subsequent trend will mainly depend on the tone of the chairman's speech, whether hawkish or dovish.

Trading suggestion: Buy on dips around 4310-4325, with targets at 4350-4380. #黄金