5.13 Gold Morning Review: CPI Negative Sentiment Disperses, Gold Rebounds from the Bottom

Market Review: Last night, U.S. April CPI data exceeded expectations, inflation stubbornly high, the U.S. dollar index surged to 98.29, gold came under heavy pressure and plummeted, falling from 4773 to 4638, a decline of over 1.5% intraday. Gold prices quickly rebounded and recovered this morning, currently around 4717, as CPI negative sentiment gradually dissipates.

Trend Analysis: The 4-hour chart shows gold prices regaining support above the 7- and 20-day moving averages, with the 90-day moving average providing strong support; the 1-hour moving averages are in a bullish alignment, with enough short-term rebound momentum after oversold conditions. Short-term oscillations are slightly bullish, with resistance at 4730, and 4680 has become a key short-term support level.

Trading Suggestions: Light long positions around 4680-4690 on pullbacks, with a stop loss at 4660, targeting 4730; if 4730 faces resistance on the rebound, consider short positions with a stop loss at 4750, targeting 4690, and strictly control position sizes.

Disclaimer: The above is for market opinion sharing only and does not constitute investment advice. Investment decisions should be made independently based on your own risk tolerance.