5.12 Gold Morning Review: Stabilizing and Continuing Slightly Bullish, 4764 as the Watermark Waiting for CPI



Market Review: Yesterday, spot gold dipped to 4648 during the Asian session and then started to rebound, with the US session pushing higher to 4748. In the early morning, it continued to stabilize, currently trading around 4740. The US dollar index retreated to 97.908, forming a bottoming and stabilizing bullish recovery pattern overall.

Trend Analysis: Based on 1-hour and 4-hour candlestick charts, gold prices are respectively above the 20-day moving averages of 4698 and 4712, indicating a continued short-term bullish pattern; the 4764 level is the short-term support and resistance dividing line, with key supports at 4700 and 4680. Tonight’s US CPI data will guide the subsequent direction. The current market remains oscillating and slightly bullish, with no clear trend yet.

Trading Suggestions: For short-term, lightly go long on dips around 4700-4705, with a stop loss at 4690, targeting 4745-4760; if the rebound hits resistance at 4764, consider shorting with a stop loss at 4774, targeting 4730-4710, strictly controlling stop-loss and position size.

Disclaimer: The above is only a market opinion sharing and does not constitute investment advice. Investment decisions should be made independently based on one’s own risk tolerance.
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