5.7 Evening PBOLE Analysis and Forecast

Today, gold traded higher during the white session but pulled back, touching 4753 in the early session before facing resistance and declining. In the afternoon, it fluctuated narrowly between 4726-4745, and the late session continued to weaken, currently trading around 4730. The bulls have completely retreated, and the bears are gradually gaining strength.

Market focus is on the U.S. initial jobless claims data tonight. The market is still betting on the Fed cutting interest rates. The dollar has pulled back from high levels but remains strong, providing limited support to gold prices and making the overall trend weak.

Technical analysis from a different perspective: Gold price has broken below all short-term moving averages, with the 5/10-day moving average death cross forming strong resistance downward; the 4-hour MACD shows a double death cross, with the green bars continuing to expand, and the KDJ has fallen into a weak zone with no signs of stabilization. The bearish trend is clear, and a breakdown to the downside is likely tonight.

Trading suggestion: Short in batches on rebounds around 4745-4760, targeting 4715, with a further breakdown towards 4650. #黄金##金价##现货黄金##原油#