Moyao: Strong reversal from the low position of the long bullish trend, precise positioning for a breakout after a high surge

Analysis of gold market on the morning of May 7, yesterday’s gold price bottomed out and stabilized before launching a strong rebound, trending higher throughout the day, with bullish momentum continuing to ferment in the evening, and the daily chart closed with a large bullish candlestick.

The market has completely shaken off the previous low and sluggish trend, confirmed support, and started a reversal correction, with sufficient rebound strength, greatly boosting bullish sentiment. The daily chart shows a strong reversal pattern, with the short-term trend switching to oscillating upward; four-hour consecutive bullish candles, Bollinger Bands opening upward, and the bullish channel remaining intact, indicating short-term strength with limited correction space.

In terms of operation, focus on the resistance zone of 4700-4720, consider shorting opportunistically, with a stop-loss set above 4730, and targets at 4650-4600.

The current market is in a strong rebound phase, and it is recommended to participate cautiously with a light position, avoid blindly heavy long positions, and strictly implement stop-loss risk control. #Gate广场五月交易分享