5.14 Gold Morning Analysis

Yesterday, gold prices showed a volatile rebound and repair after dipping to a low. After gold previously suffered a sharp pullback to the low of 4645.7, it triggered long-side buying. Last night, the market saw fierce contention between bulls and bears, and the short term fell into a tense state of choosing direction.

Yesterday saw a rise then a drop, closing as a bearish candle, forming the early shape of a three-day losing streak on the daily chart. Short-term moving averages are clearly suppressing price, and indicators show a death cross at high levels, confirming a weak oscillation pattern. Over the past four hours, price has maintained range-bound consolidation; the Bollinger Bands have narrowed, and upward momentum has weakened. The key resistance above is 4720-4750, while 4750-4770 is a dense sell-pressure zone;

Trading Ideas and Operation Suggestions:
Considering the sentiment in the Asian session and the need for indicator recovery, it is suggested for today’s early session to focus on intraday range trading—sell the highs and buy the lows.

Trading Reference: 4700-4720 can be used to take short positions in batches, with targets at 4680-4650;
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