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6.30 Gold Midday Commentary: Deep Decline with a Slight Bounce, Bearish Main Trend Unchanged
The early-session bearish short strategy was accurately realized, with gold prices directly dipping to the low of 3943. Currently, a slight recovery to around 3987 is underway, but the rebound momentum is weak, and the overall bearish trend is clear.
On the 1-hour technical chart, Bollinger Bands: upper band 4059.32, middle band 4010.89, lower band 3962.47. Prices continue to be pressured below the middle band; on the 30-minute chart: upper band 4037.31, middle band 3995.01, lower band 3952.71. The current price is near the 30-minute middle band resistance, with the RSI slightly recovering but still within the weak zone. Short-term resistance levels: 3995 and 4010; support levels: 3962 and the previous low of 3943.
Keke's suggestion: Go short on a rebound around 3995-4020, with targets at 3970, 3950, and below 3940 if the level breaks. If 3943 holds steady, consider a light long position with strict risk control and stop-loss.
Disclaimer: The above is solely personal opinion and does not constitute investment advice.