5.13 Gold Afternoon Review


Market Review:
Last night, U.S. CPI exceeded expectations, triggering a sharp drop in gold to 4638, then rebounded after hitting the bottom this morning. During midday, it surged to 4726 but faced resistance and pulled back. Currently trading around 4703, the negative impact of CPI has been mostly digested, and the overall trend shows weak oscillation.
Trend Analysis:
The 1-hour/30-minute moving averages show a oscillating structure, with diminishing rebound momentum. Key resistance above is at 4720-4730, and support below is at 4690-4680. There is a short-term need for a pullback to confirm support, but no strong reversal signals have formed yet.
Trading Suggestions:
If a pullback stabilizes at 4680-4690, consider a small long position with a stop loss at 4670, targeting 4720-4730; if a rebound reaches 4720-4730 and faces resistance, consider a small short position with a stop loss at 4740, targeting 4690-4680. Keep positions light throughout and be cautious of evening data volatility risks.
Disclaimer: This is only a market opinion sharing, not investment advice. Please manage risks and make independent decisions when investing.
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