May 12 Evening Gold Market Analysis

Gold previously stabilized at around 4650, forming a bottom, then oscillated higher and surged, reaching near 4770 before encountering resistance and pulling back. In the short term, a double top resistance structure has been formed, officially establishing the short-term high point.

From the 30-minute chart, the gold price has been continuously oscillating downward from the high of 4770, showing a stepwise decline and consolidation. Multiple attempts at rebound during the day have been unable to sustain, always struggling to break through key resistance, remaining under the pressure of moving averages, with bullish momentum continuously weakening. The short-term correction trend is very clear and weak.

The larger trend remains bullish, and the current price is just a normal technical correction after a big rally. In the short term, the market mainly fluctuates within a range, so there’s no need to chase orders; it’s better to buy low and sell high around the range’s highs and lows flexibly.

Evening Trading Recommendations

Buy in batches within the 4680-4660 range as the price pulls back
First short-term target: 4710, then continue to watch 4730-4750#黄金