May 6 Gold Analysis: Risk Aversion Fades, Gold Faces a Slightly Bearish Outlook Today

The overall market today is relatively weak, with a lack of rebound strength after opening, insufficient upward testing, and persistent pressure below key resistance levels, indicating a tendency toward downward correction.
On the news front, tensions in the Strait of Hormuz have eased, risk sentiment is gradually cooling, and without the boost of risk aversion, the upward momentum in the market has significantly weakened. Coupled with a relatively strong external macro environment, further suppressing the trend, bullish traders are showing low enthusiasm for a counterattack.
Technically, multiple attempts to break through key resistance levels above have failed, with a clear downward pressure and retreat trend; support below has only been temporarily held, but the strength to defend is weak, and the overall center of gravity shows signs of gradually shifting downward.
Intraday overall strategy: Focus on a rebound facing resistance and expect a decline, avoid rushing into low positions. Any small rebound near resistance areas can be viewed as a sign to go short; once key support below is broken, further downside space will open up, maintaining a predominantly bearish rhythm.
Trading suggestions:
Main short zone: 4635-4650, take partial shorts, stop-loss above 4660, target 4590-4570, break below to 4550. $BTC $GT $BTC #WCTC交易王PK #比特币站稳8万关口 #Aave起诉要求解冻7300万美元ETH