5.6 Gold Analysis

The US and Iran have formed a maritime standoff in the Strait of Hormuz. Although both sides have issued military warnings, overall restraint has been maintained, and there are no signs of escalation. The geopolitical safe-haven sentiment has only temporarily increased in pulses and quickly subsided, making it difficult for gold to sustain a prolonged upward trend.
Meanwhile, market expectations for a rate cut by the Federal Reserve this year continue to cool down, with the long-term high-interest-rate environment persisting, continuously suppressing gold bulls from a macro perspective. After a significant drop during the previous holiday, gold experienced a slight oversold rebound in the early trading session, but the bearish dominance on the market has not changed, and the overall trend remains weak.
On the hourly technical chart, gold has oscillated and fallen from high levels, briefly stabilizing after dipping below the 4510 level. Intraday rebound momentum is severely lacking, only representing a weak correction after a decline, and has not reversed the downward trend. The key resistance levels above are heavily pressured by sellers.

Operation suggestion: When the rebound reaches around 4650, consider short positions accordingly, with targets sequentially at 4630, 4600, and 4580, following the bearish rhythm to grasp the market. $BTC $GT $ETH #WCTC交易王PK