5.13 Gold Midday Analysis



Today’s early market did not continue the prior one-way downtrend. Instead, it saw a repair move with a dip-buying rebound; bearish momentum has clearly weakened. Currently, the gold price has returned to around 4716 for trading.

From a technical perspective, looking at the hourly chart: after the rapid streak of consecutive bearish candles bottomed out at 4645, the market printed a relatively long lower shadow. This indicates that the bottom support has some strength, and the short-term oversold sentiment has been released. The lower band of the Bollinger Bands is starting to flatten, and on the 1-hour timeframe the KDJ indicator has formed a golden cross in the low zone, diverging upward. This suggests there is a technical need for a corrective rebound.

Trading ideas and operation suggestions: The afternoon market has stabilized. Do not blindly chase shorts. The strategy is to look to go long for a rebound by pulling back to the support area.

Trading reference: Buy in batches at 4700-4710, with targets at 4735-4760.

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