5.1 Mu Yun Evening Analysis



This week, gold sharply rebounded from lows, breaking through the 4600 key level in one move. Weak US economic data dragged the dollar lower, directly boosting gold prices to reverse and strengthen.

Currently, indicators are in overbought territory, combined with light market trading and insufficient liquidity during the May Day holiday, so the short-term focus is on consolidating the gains through oscillation.

The daily chart has stabilized above the short-term moving average, with the bearish momentum weakening; the four-hour chart shows a complete bullish alignment, and the overall trend remains bullish. In the short term, there is a need for a pullback to gather strength; after adjustment, there is still room for upward movement.

Trading idea: Buy on dips around 4540-4555, targeting 4575-4630. #黄金
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