May 18 Midnight Gold Review: (Combined 1-hour + 4-hour charts):


Market Review: Gold surged to 4584 then quickly pulled back, currently trading around 4553, with short-term upward momentum clearly weakening, entering a consolidation and correction phase.

Trend Analysis: From the 1-hour and 4-hour charts, the rebound has already shown "lack of strength," with two short-term attempts to break through failing, and the momentum line turning downward, indicating that in the short term, a consolidation and correction is highly likely, not a direct large rally.

Trading Suggestions:
Prioritize shorting on rebounds: Enter when the price rebounds to the 4565-4570 range and encounters resistance, with a stop-loss set above 4585 USD, targeting 4530-4520 USD. If support is broken, continue to watch for 4500 USD.
Low buy: Wait for a correction to the 4510-4520 USD range, confirm stabilization before entering, with a stop-loss below 4500 USD, targeting 4560-4570 USD. If broken, continue to watch for 4580 USD. Currently, it’s a recovery consolidation after a big drop, the direction is still unclear, trade lightly, avoid heavy positions betting on direction, and strictly set stop-losses.

Disclaimer: The above content is for market analysis reference only and does not constitute trading advice. The market carries risks; trade cautiously.
GLDX0.4%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pinned