5.8 Gold Morning Analysis



Gold is still trading above the MA20 average line at 4646, with the medium-term bullish trend remaining intact. The moving average bullish alignment has not been broken, but there is a short-term correction after reaching high levels.

4640-4650 is a key support zone where price has repeatedly tested and stabilized in the past, combined with the MA20 line forming a strong support, which is also the core defense area for the bulls. As long as it does not break below this level effectively, the overall bullish trend will not change.

Currently in a high-level pullback phase, it is not recommended to blindly chase longs above 4700. Patience is advised to wait for a pullback to support levels for a more stable entry.

Trading Strategy:
Wait for a stabilization and entry on long positions around 4664-4685
First target 4720-4735, with a strong breakout looking at 4745-4760
Hold the 4640 support line to maintain a bullish outlook; if broken, adjust the position accordingly. #黄金
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