Gold Market Outlook Analysis

This week's data shows gold rebounding after hitting a bottom, bouncing from the low of 4500 to a high of 4764, then consolidating around 4715 after oscillating at the high, stabilizing above the middle band of the Bollinger Bands, indicating an obvious bullish trend.

Technically, supported by Bollinger Band support, stabilizing after breaking the middle band, opening upward space, with moving averages turning upward to drive the rebound;
ADP and non-farm payroll data fluctuate between bullish and bearish, market expectations of rate cuts are still fermenting, combined with a weakening dollar, supporting a stronger gold price.

Affected by profit-taking at high levels and weekend news disturbances, next week is likely to open with a decline followed by a rebound, with key support at 4700-4721;
Federal Reserve officials' speeches and geopolitical developments remain key, dovish signals aid the rebound, hawkish statements may intensify the decline;
Technical continuation: high-level oscillation phase, rebound momentum not fully released, resistance above at 4751-4764 previous high.

Around 4700-4720 is a critical support, holding it could challenge the rebound towards 4750-4765; breaking below may lead to a drop below 4700.

Trading strategy:
Pull back to the 4680-4700 range to establish long positions, short-term target at 4780-4800, strong breakouts can aim for 4876!

Next week is likely to show a pattern of initial decline followed by a rebound, with a bias towards oscillating upward. Focus on low-buying strategies, seize opportunities after pullback support, and strictly implement take-profit and stop-loss. $BTC $XAUT $ETH #Gate广场五月交易分享