May 4th Gold Morning Outlook

From the 1-hour chart, after completing an upward wave earlier, gold is currently in an ascending flag consolidation pattern, with the price pulling back from the recent high and then entering a narrow sideways trading range, with both bulls and bears temporarily at a stalemate.

The current gold price remains above the key support level and has not broken through the short-term resistance, which is a typical trend consolidation signal rather than a trend reversal; additionally, the market volatility continues to narrow, and trading volume is decreasing, indicating that the market is in a pre-breakout buildup phase. It is highly likely that a one-sided breakout will occur later, and after the breakout, it will be accompanied by increased volume and a sustained trend.

Trading Suggestions

Duo: Enter the market steadily within the 4590-4605 range, targeting 4640, with further gains expected if it breaks through to 4700.

Kong: Enter the market when encountering resistance in the 4620-4635 range, targeting 4590, with further decline expected if it breaks below to 4500. $BTC $GT $ETH #WCTC交易王PK