5.11 Afternoon Gold Ideas

4650 is the short-term strength and weakness dividing line, a strong support level. Stabilizing above it indicates a slightly stronger trend and is a key level for buying on dips; 4670-4680 is a secondary support, and a pullback can be seen as a rebound. The upper resistance zone at 4750-4765 has repeatedly pressured prices; failure to break through often results in a pullback.

Central bank gold purchases and geopolitical tensions provide medium- to long-term support for gold prices; the strengthening of the US dollar and US Treasury yields suppress gains, maintaining a range-bound fluctuation in the short term.

4660-4665 is the short-term support near the current price, and 4640-4650 is the strong support at the lower boundary of the previous consolidation zone. A break below will further open the downside space. A break of the 3-hour support indicates a risk of a pullback.

A surge towards 4720-4680 faces resistance and can be tested; a pullback looks at 4700-4680. Control position sizes strictly, and follow the trend if a breakout occurs.

A pullback to 4645-4670 can be opportunistically bought on dips, with targets above 4700; $BTC $XAU $ETH #Gate广场五月交易分享