5.12 Laosi’s Morning Gold Trading Thoughts Share



News: Geopolitical tensions support gold’s safe-haven buy demand; the European Central Bank’s slightly dovish stance puts pressure on the US dollar, giving gold prices a boost. The market is waiting for the US April CPI data, which will directly affect the Federal Reserve’s rate-cut expectations and determine short-term market moves.

Technical: Gold prices dipped to a low yesterday and then rebounded; the daily candle closed strong, with a clear bullish trend. The early session continues the rise, but short-term indicators are overbought, so a pullback is needed. Follow the trend: go long on dips instead of chasing the price. Support is at 4700–4680, and resistance is at 4748–4760.

Trading suggestion: Go long in the 4710–4720 area on the pullback; stop loss is below 4680; targets are 4760—4775—4790.
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