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6.2 Good morning, family!
Overnight gold prices retreated and weakened, opening with slight fluctuations at low levels, with a weak rebound momentum, dominated by bearish sentiment. U.S. Treasury yields remain high, suppressing gold prices, and safe-haven buying has diminished, with no positive fundamentals supporting the market.
Technically, the price is under pressure below the moving averages, with short-term oversold conditions needing minor correction, but the rebound space is limited, indicating a weak consolidation.
Intraday resistance is at 4500, support at 4450, strong support at 4420.
Operate mainly by shorting on rebounds.
Enter short positions on rebounds from 4492-4450, with a stop loss above 4510, targeting 4450;
If there is a quick pullback near 4420, consider light long positions to play the rebound, strictly with stop-loss, avoid heavy positions against the trend, and wait for a breakout to follow the trend.