Gold Trend Analysis for the Evening of June 30

On the daily chart, the 5-day, 10-day, and 20-day moving averages form a neat bearish arrangement. Gold price is blocked at the 4024 level by the resistance zone formed by the convergence of multiple moving averages. Short-term moving averages consistently suppress the price trend, making it difficult for bulls to form stable support.

Gold price has been gradually declining from the high of 4382, with a very clear overall downtrend. Price highs are gradually lowering, and new lows are constantly emerging. At this stage, the price is merely in a consolidation phase within the downtrend. The previous bullish candle based on the low of 3943 is only a technical correction during the downtrend. The overall original downward trend has not changed at all.

Trading Reference Strategy

Wait for the price to rebound to the 4030-4055 range, and enter short positions in batches. The first take-profit target is the 4000-3980 range; if the price breaks below the 3960 support with a solid bearish candle, existing positions can be held further, with the next target at 3940. #黄金行情