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5.8 Gold Market Analysis Poem Yuan's View
Gold started its rebound near 4505, reached a high of 4765.99, then entered a technical correction, currently trading around 4716, in a high-level pullback and consolidation phase, with bullish momentum waning.
Key levels to watch above are 4735-4750 and 4765.99. During resistance, a light short position can be tried on pullback. Support levels below are 4690-4700, with a critical support at 4650-4660. Overall, it remains in a technical correction phase dominated by a bullish trend, with no clear reversal signals yet.