5.11 Midday Gold Analysis



Last week, gold surged then pulled back, repeatedly testing high levels: earlier due to geopolitical risk aversion and a weakening dollar, later suppressed by a rebound in U.S. Treasury yields and hawkish Federal Reserve comments, weakening the bulls; during the week, there was a tug-of-war between bulls and bears, with overall range-bound movement, and a slight stabilization over the weekend, showing a pattern of rising with resistance and pulling back with support!

Both daily and 4-hour charts are in high-level consolidation, Bollinger Bands are narrowing, indicators are neutral with no obvious overbought or oversold signals, and the bulls and bears are balanced with no breakout signals!

The hourly chart opened weakly during the Asian session with slight fluctuations, likely to continue range-bound movement during the day, avoiding chasing after a breakout until a clear move occurs; it is recommended to wait and see for the European and American sessions to gain momentum!

Trading Suggestions
Pull back to 4650–4660 for light positions and try to buy
Target 4680–4730
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