5.6 Wednesday Gold Morning Analysis



From the chart trend, gold prices have steadied around the 4500 level, halting the decline. The lows are gradually rising, and the support below is strong enough; the rebound strength is slowly picking up. 4500 is an important bottom-line price. As long as it is not broken, the overall market still leans toward an upward direction.

In terms of the market, the overall trend is currently stable, and the US dollar is slightly up, having little impact on gold. In addition, with geopolitical conditions providing added safe-haven support, there are no clear negative news at present, and gold overall maintains a sideways-to-upward trend.

Trading idea: On pullbacks in the 4530-4550 range, enter in batches to go long. For short-term upward targets, watch 4580-4600; on a breakout, look for 4630-4660. $BTC $ETH $XAUT
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