5.11 Gold Market Analysis - Poetry's Perspective



Rising sharply then falling back, this wave of correction needs to be firmly grasped!

Looking at the 4-hour chart for gold, after a previous surge reaching around 4765, it began to show clear resistance and pullback. From a technical standpoint, the MACD indicator has entered the dead zone, with the momentum histogram continuously shrinking and turning negative, indicating that short-term momentum is weakening, and the short-term trend is leaning towards consolidation and weakness.
Currently hovering around 4660, after the previous upward support line was broken, there is a short-term need for a pullback to confirm.

The DIF line has crossed below the DEA line, forming a death cross, with the momentum histogram turning green and continuing to expand, indicating that the bearish momentum is being released, and the short-term strength of the bulls is significantly diminishing, currently in a correction cycle dominated by bears.

Gold suggestion: When the rebound reaches the 4700-4720 zone and encounters resistance, consider a light short position, with a stop loss above 4770, targeting support levels at 4640-4620.
$BTC $GT $ETH
#特朗普5月13日访华
#山寨币资金回流
#CLARITY法案下周审议
BTC1.1%
ETH0.16%
View Original
post-image
post-image
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pin