Gold Digger Lao Mao | Spot Gold Morning Outlook

2026.05.07

The charm of trading doesn't lie in predicting every rise and fall of each candlestick, but in maintaining your rhythm within the rules.

From a technical perspective, the 1-hour moving averages are still in a bullish arrangement, but after touching the 4722 level, the price clearly faced resistance and pulled back, currently fluctuating around 4697 with narrow range, and the short-term upward momentum has weakened. The upper band of the Bollinger Bands is near 4725, forming strong resistance with previous highs, while the middle band and MA10 are around 4690, providing short-term support. The oscillation range is narrowing. The BIAS indicator shows that the short-term divergence has significantly decreased, and the previously overbought bullish sentiment is being digested. The technical conditions for a pullback from high levels are gradually forming.

The overall intraday strategy is mainly to go short at highs, with some long positions at lows. Resistance above is focused on the 4710-4730 zone; when touched, consider shorting opportunistically, with a stop above 4740. The target is around 4670-4660. Support below is at the 4660-4640 range; a first rebound and stabilization can be taken as a light long position, with a stop below 4635. The target is around 4690-4700.

The above content is for personal trading ideas only and does not constitute any investment advice. The market carries risks; invest cautiously.