5/12 Afternoon Thought Analysis



In the morning, gold continued in an oscillating pattern. After a slight push higher, it came under pressure and fell back, completing a quick retracement and shakeout move in the short term. The overall market structure remains bullish and has not been broken. The moving average system is still running upward; during the pullback, momentum keeps weakening, and the key support below has extremely strong holding power.

At present, the hourly chart indicators have been fully repaired, and the release of bearish pressure has ended. The bulls are now accumulating strength and brewing a new round of rebound. The major trend is still firmly bullish; this pullback is only a normal correction within the upward move.

Afternoon trading plan
Enter in the 4700-4720 range on the pullback, defend below 4690, target a breakout and then watch 4735-4750 first, and 4780-4800 next.
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