6.18 Morning Breeze Gold Analysis

The current short-term rally in gold is only a pause and a buildup of strength within a rebound process; it has not completed a trend reversal. Avoid blindly chasing after prices at the highs. 4300 is a level of extremely critical significance—it is both the upper edge of the prior consolidation range and the core watershed of the recent “duo” vs. “kou” game. If the price manages to successfully hold above that point, the short-term rebound structure will be further reinforced; if it breaks down effectively, selling pressure from the “kou” side will surge in a concentrated wave, and the “duo” side’s counterattack strength will be significantly weakened.

The hourly chart has already moved away from the previous weak consolidation-and-range-bound state. The earlier key resistance level has completed a reversal from top to bottom and has turned into support for the current stage. The sideways trading at high levels today is consolidation during an uptrend, not a sign that the market has topped. Going forward, there is still room for upward movement. On the one hand, this round of consolidation helps absorb the “kou” side’s profit-taking; on the other hand, it accumulates upward momentum. As long as the lower support levels are not broken through, the overall upward structure can continue.

Trading suggestion: 4280-4300 “duo”; first look at 4350-4370.