5.13 Gold Midday Review | Rushing higher then pulling back, continued shakeout



Today, gold again showed a pattern of rushing higher then pulling back, impacted overnight by the negative US CPI data, with the gold price surging to 4773 then facing downward pressure, dropping to 4637 before quickly rebounding in a V-shape, with a long lower shadow on the daily chart, clearly in a wide-range oscillation shakeout pattern at high levels.

The US dollar index and US Treasury yields remain high, continuously suppressing the upward space for gold prices, with limited support from geopolitical risk aversion sentiment, and no clear short-term trend, mainly trading within a range.

Key levels
Support: 4680‑4700 (intraday support/resistance boundary), strong support at 4650
Resistance: 4730‑4750, strong resistance at 4770 previous high

Trading strategy
Buy low on dips around 4685‑4690, with a stop loss at 4680, target 4730‑4760
In a volatile market, avoid chasing gains or cutting losses impulsively, strictly manage stop losses, participate with light positions

⚠ For reference only, not investment advice #黄金
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