May 11 Evening Gold Outlook



Today, gold mostly moved within a range of oscillation, dropping quickly but being pulled back up, indicating strong support below and that the bears lack the strength to push it down.

There was no significant news movement, and the US dollar also didn't experience major fluctuations. Currently, gold prices are not disturbed by strong external forces, mainly moving within technical narrow ranges.

The Bollinger Bands have already noticeably contracted, with the range becoming narrower and narrower. 4678 is a short-term strong resistance, and 4655 is the first support level.
Currently, the bearish momentum is gradually weakening, and the lower Bollinger Band is also moving upward. The breakout trend is getting closer, so there's no need to panic—just follow the range.

In terms of trading, prioritize buying low, with a focus on the 4640-4660 range. First target is 4700; if broken, then look at 4730 and 4750. #黄金
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