5.14 Gold Midday Analysis

This morning, after opening, gold prices did not continue the previous sharp decline but remained in a narrow range between 4670-4700. The price briefly dipped to around 4670 for support, then slightly rebounded to the 4685 level, but the bullish momentum is clearly insufficient, and overall it remains in a low-level correction pattern.

From the 1-hour chart perspective, after hitting a bottom at 4645.7, gold prices saw a slight rebound, but the overall trend remains pressured below the middle band of the Bollinger Bands. However, the current price has fallen back to near the lower band of the Bollinger Bands, where technical support exists. Regarding the KDJ indicator, all three lines have fallen into the oversold zone at 20-30, with the J line turning upward, indicating that the downward momentum is weakening, and there is a short-term technical rebound and correction demand.

Trading ideas and operation suggestions:
In the afternoon, avoid blindly shorting again. Currently, the market is in a correction after a decline, with solid support below, so the strategy can shift to mainly low buy.

Operation reference: Buy at 4675-4685, target 4705-4720
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