5.15 Gold Morning Analysis

Gold overall weakened with oscillations yesterday, repeatedly consolidating during the day, then breaking down directly after the New York session. The daily chart closed with a long upper shadow bearish candle, clearly showing heavy resistance above.

From a technical pattern perspective, the short-term trend on the daily chart leans toward bearish, but the weekly chart still shows a bottoming rebound structure, and the medium-term bullish trend has not been broken. Therefore, today do not blindly chase large declines; the overall approach should focus on range-bound oscillations, with opportunities for rebounds after testing the bottom.

Key reference levels to watch:
The short-term resistance is at around 4688; a rebound to this level can be used to short on the way down.
The primary support below is at the previous low of 4638; if this level is effectively broken, the market will further decline toward the 4615–4605 area.
The 4600–4610 zone is a key area for long positions; until it is thoroughly broken, you can consider buying on dips.
The ultimate strong support is at 4587, the top-bottom conversion point, which is also the defensive bottom line for all medium-term long positions.

Today is Friday, approaching the weekly close, and the market is prone to large fluctuations. Be sure to strictly set stop-losses and manage risk properly.

Trading Suggestions
Buy on dips in the 4610–4600 area in batches, with targets sequentially at 4638—4645—4660.
$BTC $ETH $XAUT