5.5 Gold Evening Market Outlook by Shiyuan

In the afternoon, gold briefly broke through the 4547 resistance and moved above 4560, but there are signs of a pullback on the hourly timeframe—around 4570, the moving averages are exerting strong downward pressure.

This round of hourly rebound is not a trend reversal; it is more of a push higher to lure in long positions. Overall, the market still maintains a weak downward pace. On the daily chart, the candle closed as a real-body bearish candle with a long upper shadow, suggesting heavier selling pressure above. In the short term, the moving averages are turning downward, and the KDJ at high levels has formed a death cross—bearish structure is dominant.

Key levels: Resistance is 4560–4570 above; support is 4500 below
Suggestion: Sell short near 4570; stop loss at 4588; take profit at 4530–4500
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