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May 18 Gold Afternoon Review:
Market Recap: In the morning, gold surged to 4555 but faced resistance and plummeted, with a low of 4480. It has now recovered to around 4545, with overall bearish sentiment strong.
Trend Analysis: Short-term moving averages are arranged in a bearish pattern. The current rebound is only a correction from oversold conditions. Resistance above is at 4500-4560, support below is at 4512 and 4480. The overall trend remains bearish.
Trading Suggestions: Prioritize shorting on rebounds, enter short positions in the 4555-4560 range, with a stop loss at 4568, targeting 4510-4480; if support at 4480 is not broken, consider light long positions with quick entries and exits, strictly managing stop losses.
Disclaimer: The above is only a market opinion share and does not constitute investment advice. Investment decisions should be made independently based on your own risk tolerance.