6.30 Gold Morning Commentary: Slight Rebound Under Pressure, Bearish Trend Continues

Yesterday's strategy of buying low and selling high fully materialized, with gold prices dipping to a low of 4009 and currently recovering slightly to around 4020. The rebound momentum is insufficient, and the overall weak pattern remains unchanged.

From a technical perspective, the 1-hour Bollinger Bands show an upper band of 4069.57, a middle band of 4035.38, and a lower band of 4001.19, with prices continuously under pressure below the middle band. The 30-minute Bollinger Bands have an upper band of 4038.31, a middle band of 4023.04, and a lower band of 4007.77, with gold prices approaching the middle band resistance. The RSI indicator is neutral to weak, with bears in control. Short-term support at 4010, strong support at 4000; resistance at 4035 and 4075.

Keke's suggestion: Go short on rebounds near 4035-4055, targeting 4010 and 4000, with a further downside target of 3985 if broken. If the 4000 level holds steady, consider a small long position, strictly controlling positions and using stop-losses throughout.

Disclaimer: The above is only a personal opinion and does not constitute investment advice.