May 18 Monday Gold Morning Review



From a technical perspective, the daily chart shows consecutive downward candles, the MACD indicator has a death cross and is diverging downward, and the bearish momentum continues to be released; the 4-hour Bollinger Bands are opening downward, with the price staying close to the lower band. Although the RSI indicator has entered the oversold zone and a slight technical rebound may be needed for correction, the overall weak pattern is difficult to reverse.

Trading suggestion: Short around 4530, stop loss at 4555, take profit at 4482/4462

If it breaks below 4450, the downward trend is likely to continue towards 4350-60.
PAXG0.57%
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