5.8 Afternoon Gold Outlook



The overall news sentiment is quiet, with the market waiting for the evening unemployment data, and sentiment leaning towards caution. The US dollar index is not fluctuating much, and gold has no clear short-term direction.

Technically, the Bollinger Bands are narrowing, with the upper band pressing down, and obvious resistance above. The bullish momentum is insufficient, maintaining a range-bound pattern.

Suggestions:
A pullback to 4695-4675 can be bought low; if the decline is stronger, add on dips at 4665-4645; if it moves upward directly, follow at 4705, with a target above 4730.

At the same time, watch for sharp rises followed by pullbacks. Short positions can be arranged at 4735-50, with a first target of 4710-4700. $BTC $GT $ETH #Gate广场五月交易分享
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