6.25 Early Morning Gold Market Analysis by Shiyuan


Good morning, comrades on the gold battlefield!
Gold is in a bearish trend on the 4-hour chart, continuing to decline from 4201 to a low of 3962, currently oscillating at a low of 3983. Both highs and lows are moving downward simultaneously, with weak rebound momentum, only a minor correction from oversold conditions, and no reversal signal yet.

Resistance: 4020, 4060
Support: 3962, 3940

Trading Suggestions:
1. Based on the resistance level at 4020, go short with a light position, set a stop loss above 4035, and target 3970-3962 first; if it directly breaks below 3962, follow the trend and go short targeting around 3940.
2. Do not aggressively buy the bottom; wait for a pullback to the 3962 support level to stabilize and for the 4-hour chart to show a clear bullish reversal candle before lightly trying longs, with a rebound target of 4000-4020. $XAU
XAU-0.04%
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