6.29 Gold Morning Market Analysis

Looking back at last Friday's gold trend, it showed a pattern of bottoming out and rebounding overall. After prices dipped to the 3982 level, they stabilized and bottomed out. In the late session, prices oscillated higher and closed steadily near 4088. This rally is merely a short-term corrective rebound within the downward trend. The overall bearish structure has not fundamentally changed, and the trend remains biased to the downside.

From a technical perspective, moving averages on the weekly and daily charts maintain a bearish arrangement, while the middle Bollinger Band forms strong resistance above. On the 4-hour chart, indicators have weakened again after short-term repair, with insufficient bullish momentum, making a continued surge less likely.

In terms of fundamentals, there are currently no major economic data guiding the market toward a unilateral trend. U.S. Treasury yields continue to oscillate within a range, persistently weighing on gold prices. Intraday prices are likely to maintain range-bound consolidation, with gold fluctuating mainly between the upper and lower Bollinger Bands.

Trading strategy: Wait for gold to rebound to the 4070-4090 range and go short in batches, targeting 4050 and 4025 successively, with the key lower target at 3990. #黄金