5.8 Evening Gold Trading Ideas



The market is focusing on the U.S. initial jobless claims data tonight: weak data is bullish for gold, while strong data suppresses gold prices from rising.

Gold prices remain above the middle band of the Bollinger Bands, showing a sideways to bullish trend; resistance at 4723, support at 4706, and tonight’s data is expected to break the narrow range.

Trading suggestions:
Pullback to 4710-4690, deep dips to 4680-4660 are suitable for buying on dips; if it directly surges near 4720, you can also follow up, targeting above 4750. If it breaks through 4760, look for 4800, 4820.

For a mild rebound at 4740-4750, try short positions with small size, stop loss at 4765, target 4700-4680. If it effectively breaks below 4650, rebound at 4660 to short, target 4600-4580. $BTC $GT $ETH #Gate广场五月交易分享
BTC1.18%
GT2.06%
ETH1.92%
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