5.4 Gold Intraday Market Outlook — Shiyuan’s View



Last Friday, gold traded within a range during the Asian session. It weakened and pulled back in the European session, then rebounded again in the U.S. session. Overall, it showed a tug-of-war between bulls and bears, with the daily chart closing as a small doji small bearish candle.

After the market opened on Monday morning, the gold price moved slightly lower. Judging from the daily structure, it is still trading in a bearish-leaning manner overall. The key resistance above is located at last Friday’s high of 4660, while support is at 4510.

Today’s trading idea is mainly to sell short on rallies, focusing on placing short orders within the 4635–4645 range.
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