Gold: Pulling back from highs, bearish on rebounds



Gold Digger Lao Mao
2026-05-08

The confidence in trading has never been about guessing tops or bottoms, but about following the structure and trading what you understand.

Currently on the 1-hour chart, the price has fallen from the upper Bollinger Band at 4764, facing resistance, and after breaking below the middle band at 4721, it continues downward. It is now near the lower band at 4678 for support. Short-term bearish momentum dominates, the divergence rate has entered negative territory, and the oversold rebound space is limited. The overall downward structure remains unchanged.

In terms of operation, focus on shorting rebounds, entering around 4710-4715, with a stop above 4725, targeting 4680-4675. If the first support at 4670-4675 is touched and stops falling, consider a small long position, with a stop below 4660, targeting around 4700. Trade quickly in and out, avoid holding positions for too long.

This content is for personal idea sharing only and does not constitute trading advice. The market carries risks; invest cautiously.
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