On June 4th, in the daily chart, the gold price has begun to slowly breach the short-term series of support levels. The short-term moving averages are gradually turning downward, indicating the market continues to be in a weak, oscillating pattern. The current pressure zone is gradually shifting down to the 4470 area.
In the 4-hour chart, the price is temporarily maintaining a narrow-range consolidation at low levels. The candlesticks continue to be suppressed by short-term moving averages, sustaining a relatively weak trend. The short-term price is compressed within the range of 4470 to 4420.
In the hourly chart, following a small rally and retreat, the market is currently in a narrow-range consolidation. Attention should be paid to the short-term adjustment and correction.
Trading Strategy
For gold, consider buying on a pullback to 4420, with a stop loss at 4410 and a target of 4440-4450. Alternatively, consider selling on a rebound to 4490, with a stop loss at 4500 and a target of 4470-4460.
In the daily chart, crude oil continues to trade within a wide-range consolidation. In the 4-hour chart, the price is currently in a narrow-range consolidation at high levels. After touching near the previous resistance zone, the price has begun to weaken gradually.
The hourly chart is also showing some divergence, suggesting there may be room for adjustment in the short-term trend.
Trading Recommendations
Consider selling near 96.2-96.3, with a stop loss at 97.3. Alternatively, consider buying near 93.5-93.6, with a stop loss at 92.5. Real-time market guidance will be provided during the session.
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