6.29 Monday Gold Midday Ideas

Yesterday, gold prices bottomed at 3982 and rebounded strongly. Today, they are oscillating in the 4060-4080 range, which is a short-term recovery after the sharp decline. The medium- to long-term downtrend has not reversed.
The short-term rebound is driven by profit-taking from bears and low-level buying by bottom-fishing funds. The slight weakening of the dollar and U.S. bonds has temporarily reduced pressure on gold prices. However, the expectation of the Fed's high-interest-rate policy remains, long-term bearish factors have not been eliminated, and the rally lacks sustained positive support.

On the technical side, the key support below is 3980-4000, while the strong resistance above is 4090-4110. There is a concentration of trapped positions here, making it easy for prices to pull back after a rise. Although the short-term is warming up, the rebound space is limited, and the risk of a pullback after a rally is high.
Operation suggestion: short at 4080-4085, target 4050$BTC $ETH $SOL