5.12 Morning Gold Outlook



Daily chart moving averages are in a bullish arrangement, Bollinger Bands are trending upward, MACD red bars are enlarging, indicating a strengthening trend; 4-hour price is moving along the moving average line, in an upward accumulation phase; 1-hour is consolidating at high levels, with indicators showing short-term pullback and correction needs, but the bullish trend remains unchanged.

Weak dollar and geopolitical risks support gold prices, with U.S. CPI data tonight serving as a key turning point signal.

Key Levels

Support: 4710-4730, 4680-4700;
Resistance: 4780, 4800.

Trading Suggestions

Bullish dominance, buy on dips, avoid chasing highs.

Buy on dips: Wait for a rebound to stabilize at 4720-4740 and go long, target 4780-4800;

Short-term short: Short lightly on a rally at 4775-4780 with pressure, target 4730-4740.

Strict stop-loss, reduce positions before CPI data to hedge risks. $BTC $XAU $ETH #Gate广场五月交易分享
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PeopleOnTheCoinPath
· 15h ago
Steadfast HODL💎
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