June 29 Gold Evening Market



Looking at the recent chart, after the gold price surged to a stage high of 4108.69 on June 26, bullish momentum quickly weakened, with consecutive bearish candles initiating a pullback. The price has continuously fallen from the upper Bollinger Band and broken below the middle band, currently running close to the lower band. The bullish-bearish pattern has completely turned bearish.

The current gold price is 4038.44, near the lower Bollinger Band at 4035.72, showing obvious oversold in the short term. After continuous volume-driven declines, technical indicators urgently need repair. There is a short-term demand for a rebound, but it is merely a technical repair after the decline, not a trend reversal. Unless the gold price can firmly hold above the middle Bollinger Band, the bearish trend remains unchanged.

Trading Ideas

Short-term rebound trading: Light long position on pullback near 4030, target 4060‑4080.
Short on trend: Gradually short on rebound to 4060‑4080, targets below at 4030 and 4000. #黄金
GLDX-1.06%
PAXG-1.42%
XAU-1.53%
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