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5.12 Afternoon Thoughts
The US dollar is fluctuating at high levels, suppressing gold price rebounds, but cautious market expectations of Federal Reserve policies also limit gold’s downside space, so overall sentiment remains steady.
The Bollinger Bands are opening downward, and 4700 is the line separating bulls and bears. It is currently a repair/correction period—high positions should be short, and low positions should be long (only need to).
Suggestion: Short at rebound resistance levels 4735-4750-4770; if it breaks below 4700, look for a drop to 4660.
Buy on a pullback to 4705-4685; add longs on a strong correction to 4675-4655; if it rises directly, follow near 4715, with targets looking above 4750.$BTC $XAU $ETH #Gate广场五月交易分享