Gold surged to new highs yesterday—can it continue today!

Gold performed extremely strongly overall yesterday. After a slight lower open, it quickly dipped, but once it tagged 4648, the decline was immediately halted. Buying capital flowed in, forming a solid support. The market then stopped falling, stabilized, and steadily moved higher.

During the US session, the “duo” (head) momentum gained even more strength. The price kept climbing all the way to around the 4748 high. In the end, the daily chart closed with a long lower shadow and a big bullish candle. Bottom support is firmly standing, and the pattern of a long-sided reversal and upside push has been fully formed.

Today’s open continued the strong upside momentum from overnight. In the short term, it quickly surged by nearly 40 dollars. The current higher-timeframe long trend is still intact, but short-term technical indicators have already moved into the overbought region, and the chart clearly shows a need for a pullback and corrective repair.

For trading, go long in line with the trend. Do not chase the rally at the high. Be patient and wait for a pullback to enter in batches. If a small “bait short” move causes a downward shakeout, the key strong support is the 4707 low point in the early morning. As long as it doesn’t break and holds firm, you can still add positions and plan long setups accordingly.

My personal suggestion: you may choose to do “duo” around 4715. Targets: 4750-65-90!
$BTC #特朗普5月13日访华 $ETH