5.15 Midday Gold Trading Ideas

In the morning session, gold prices broke below the key support level of 4660, with increased volume and a decline toward around 4600, which is part of the previous consolidation range breakout and continuation of the bearish trend. Currently, the bearish momentum is strong, making it difficult to stabilize and reverse quickly in the short term. The market needs to undergo consolidation and emotional repair, with a focus on the support zone of 4585–4565.

Overnight, gold prices continued to weaken, with three consecutive daily declines, a dead cross on the KDJ, and increasing green bars on the MACD, indicating a clear overall downtrend; the 2-hour chart saw a rally to 4665 followed by resistance and a pullback, with indicators entering oversold territory. In the short term during the Asian and European sessions, upward space is limited. Overall, the operation favors a bearish bias, prioritizing shorting on rebounds, closely watching the 4600 support, and if broken effectively, lightly chasing short positions.

A pullback to 4560–4580 can be used to establish long positions, targeting above 4620; during rebounds in the 4600–4620 range, consider staggered short entries, and once resistance is encountered, enter short positions. The lower targets are 4550–4500. #CLARITY法案参议院通关 #Gate广场五月交易分享