Brother Liang's Daily Gold Gains—May 8 Gold Morning Review

Fundamental and technical factors resonate, with bulls taking the lead

Macro news:
China's central bank gold reserves have achieved "eighteen consecutive increases," continuously providing a solid long-term credit backing for gold prices.

Technical analysis:
Overnight gold prices experienced a V-shaped reversal, successfully breaking above a key watershed, with short-term bullish momentum recovering. It is expected to remain volatile at high levels with a slight bias toward strength during the day.

Trading strategy:
Main strategy: Rely on support levels at 4700 and 4680 for dip buying.

Secondary strategy: Near the previous high resistance at 4760, consider light short positions.

Currently in a wide-range consolidation phase, it is crucial to trade lightly with stop-losses. Once key levels are broken, switch strategies immediately; avoid holding positions on the left side.

In trading, the most expensive thing is not missing the opportunity, but being driven by emotions. Discipline is the moat of profitability.