5.4 Gold Midday Analysis Gold's midday trend has been set, closely watch the key dividing line between strength and weakness

Midday gold trading is oscillating slightly weaker, encountering resistance near 4638 during the Asian session rebound and pulling back, currently trading in the 4595-4610 range, with short-term rebounds lacking momentum and selling pressure at high levels continuing to appear.

The technical outlook shows clear weakness, with the hourly KDJ forming a death cross downward, and the MACD red histogram steadily shrinking, indicating that bullish momentum is gradually depleting. The daily chart shows a oscillating and slightly weak structure. The area around 4630-4638 is a short-term strong resistance, tested multiple times without breaking through, and the resistance in the 4650-4655 range is even heavier, making rebounds difficult to sustain.

The key support below is at 4580-4590; if this level is broken, further decline to the low zone of 4550-4560 is likely. Currently, the market lacks upward momentum, with obvious resistance at high levels, and the short-term trend is mainly oscillating downward.

In terms of trading, consider short positions when rebounds reach resistance zones, entering gradually around 4630; consider short-term long positions if the price pulls back to support at 4580-4590.

Trading suggestions:
Gradually short in the 4620-4645 range
Target 4550-4570