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May 15 Morning Gold Outlook
The one-hour cycle shows a clear downward trend, with the Bollinger Bands opening downward, and the upper and lower bands moving down in sync, indicating continued bearish momentum and the official opening of a decline channel.
The price has broken below the Bollinger lower band with consecutive bearish candles, indicating short-term dominance by the bears. However, after overselling, there is a technical need for a slight rebound, which is only a short-term correction; the overall downward trend remains unchanged.
Trading reference
Long positions: Stabilization around 4635-4650 can be entered, target 4680, with a breakout aiming for 4780
Short positions: Resistance at 4660-4675 can be considered, target 4620, with a breakout aiming for 4500#Gate广场五月交易分享 #BTC #ETH