6.30 Gold Midnight Review: Deep drop followed by significant recovery, rebound under pressure, bearish tone unchanged



During the day, gold price dipped to a low of 3943.66 and then continued to rise, hitting a high of 4063.37 at midnight. Currently quoted around 4052, this rally is merely a corrective rebound after the sharp drop.

Technically, 1-hour Bollinger Bands: upper band 4058.21, middle band 4009.24, lower band 3960.26, channel remains downward; 30-minute Bollinger upper band 4058.53, price is pressing against the upper band resistance. Both period RSI have entered overbought territory, upward momentum gradually exhausted.

Short-term resistance: 4058, 4063; support: 4009, 3943.

Keke's suggestion: Short near 4055-4075, targets 4020, 4000; if 4000 holds, lightly try long, remember to set stop loss and strictly control position.

Disclaimer: The above are only personal opinions and do not constitute investment advice.
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