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5.11 Midday Gold Analysis
The signal for stabilization on the platform is clear, after a sharp decline gold formed strong support around 4651, currently rebounding to the 4670-4675 range, a short-term pullback is a bottom absorption window, and the buying momentum is rapidly recovering.
Indicator resonance confirms the rebound momentum, KDJ rapidly rises from low levels, with the J value breaking through 90, indicating sufficient rebound strength; ATR is turning upward in sync, volatility is increasing, and the bullish trend has already started.
Trading suggestions:
Enter the range of 4650-4645, set stop-loss at 4640, with the first target at 4695, and if broken, look towards the previous high.