June 18 Gold Morning Market Analysis

Early morning, the Federal Reserve held steady, maintaining interest rates in the 3.5%-3.75% range. The decision was somewhat hawkish, lowering expectations for rate cuts this year, combined with officials' statements that U.S. inflation remains stubborn, and high interest rates will persist longer. As a result, the dollar and U.S. Treasury yields both rose, causing gold prices to break below the key support level of 4280, officially ending the short-term bullish trend.

Technical aspects:
The 4-hour Bollinger Bands are opening downward, with gold prices running along the lower band. Indicators are entering oversold territory. The early rebound is merely a correction from the decline, not a trend reversal; MACD bearish momentum has slightly weakened but remains below the zero line, making it difficult for bulls to gain strength.
On the daily chart, prices broke below the 4300 level, with moving averages collectively turning into resistance, forming a bearish dominance pattern; the hourly chart shows only a slight oversold rebound demand, with limited upward space, and the overall weak pattern remains unchanged.

Trading ideas:
Short positions can be taken in batches on rebounds to 4320-4340, with the first target at 4270-4240. If the price breaks through smoothly, look for a move toward 4200. #黄金