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XAU Gold Market Analysis 2026.05.12
Since May 6, I have been advising brothers in the group to buy some positions, and after the pullback yesterday, I added more. I am still patiently holding. This morning, I indicated in the group that the structure of gold might have some changes, and we need to pay attention.
If it cannot break through 4890 before May 19, gold may undergo a triangle correction or a converging correction. If it moves this way, the correction could last until the end of May or early June.
This kind of movement will take more time, but it is also a strong correction. After the correction ends, gold will still rise above 5000 (during the correction period, it must not fall below 4501, or the structure will be invalid).
A direct breakout or a real large-scale converging correction, if there are signs later, will present trading opportunities. I will notify in the group #XAU $XAU .