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5.14 Gold Morning Review: Short-term Small Rebound, Range Pattern Unchanged
1. Market Review
Recently, gold has been fluctuating within a narrow range, dropping to 4638 before stopping the decline and rebounding, gradually recovering losses overnight. Today’s opening price is 4693, current quote is 4698, with a maximum intra-day touch of 4699, showing a slight rebound overall.
2. Trend Analysis
Looking at the 1-hour chart, the short-term moving averages are turning upward, and the price is above the moving averages, indicating short-term rebound momentum. However, the 20-day moving average on the 4-hour chart forms strong resistance around 4698-4700, and the 90-day moving average provides support near 4654. Overall, it remains in a range-bound pattern, with key zones at 4700-4705 above and 4660-4640 below.
3. Trading Suggestions
Focus on range-bound trading within the day: if the rebound reaches 4700-4705 and does not break, consider short positions targeting 4670-4660, with a stop loss above 4710; if it pulls back to 4660-4650 and stabilizes, consider long positions, and follow the trend if it breaks, avoiding chasing highs and selling lows.
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.