May 12th Wenjie Gold Morning Analysis



Yesterday, gold prices tested the bottom and rebounded, with the daily chart closing with a large bullish candle, stabilizing above the short-term moving averages and the middle band of the Bollinger Bands, indicating a clear bullish trend; the 4-hour Bollinger Bands are opening upward, with prices supported by the moving averages and oscillating higher, MACD red bars continuing, KDJ forming a golden cross and stabilizing, with limited short-term correction strength, and rebound momentum still strong, mainly trading in a slightly strong oscillation in the early session.

Key levels
Support: 4730—4710 (today's bullish defense zone)
Resistance: 4780—4800 (first target in the early session)
Waterline: 4710 (break below turns to consolidation)

Trading ideas
Follow the trend to buy on dips, enter after stabilizing around the 4730-4715 area, with a stop loss below 4700, target at 4770-4780, and if broken through, hold for the 4800 level. #现货黄金 #外汇黄金
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