# 6.26 Zhaoying Morning Gold Market Analysis

After the decline from the previous high area, the overall market has been persistently weak and moving lower, probing the periodic low and temporarily stopping the declining trend. Currently, the market is in a low-level consolidation phase after the high decline. Bearish selling pressure has eased somewhat, but the overall trend has not reversed, and bullish forces have not yet formed an effective counterattack structure.

After stabilizing at the low, a small rebound repair has unfolded, but the rebound strength is limited. When rising, it touches the convergence of short- and medium-term moving averages and then encounters resistance again. The intraday overall fluctuation range is relatively small, and the forces of longs and shorts are relatively balanced. The market as a whole is in a rhythm of bottoming consolidation.

Currently, the key support on the market is concentrated at the low of this decline; the first resistance above is 4050, located in the short-term rebound pressure area, and further resistance comes from the secondary resistance level 4100 and the previous stage high.

When the rebound approaches the short-term resistance level 4050 and shows signs of stagnation and decline, you can follow the trend and enter a short order. The downside first targets the key support at 3960.
Once the support level is effectively broken by real bodies, it means that the bearish trend has restarted, and you can follow the trend to add short positions, further looking at the lower level 3800.
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