6.30 Evening Gold Market Analysis

From the daily cycle perspective, the 5-day, 10-day, and 20-day moving averages are in a standard bearish alignment. Gold prices face resistance at the moving average convergence around 4024, with short-term moving averages continuing to exert pressure. The bulls struggle to form effective support, and the rebound momentum remains weak.

Gold prices have been declining since the high of 4382, forming a clear trend-driven downtrend with lower highs and lower lows. The current market is merely a consolidation phase within the downtrend. The earlier rebound based on the 3943 low was only a minor technical correction within the downtrend and did not change the overall downward structure.

Evening Trading Strategy

Maintain a short-focused approach overall; do not blindly buy the bottom
Wait for gold prices to rebound to the 4030–4055 area to lay out short positions in batches
First target: the 4000–3980 range
If a solid bearish candlestick effectively breaks below the 3960 support, hold the short positions and continue targeting the 3940 level#黄金