5.19 Gold Analysis



Gold's 1-hour cycle is in a bullish correction accumulation phase, with the current price stabilizing around 4556 near the middle band of the Bollinger Bands, and the overall upward trend remains intact. The lower band at 4533 provides strong support, forming a double defense at the intraday low of 4533, indicating a solid bullish foundation.
The Bollinger Bands maintain an upward opening structure, with the upper band at 4585 and the previous high at 4591 forming short-term strong resistance. The rally to the high and subsequent pullback are profit-taking at high levels, not trend reversals, representing a healthy correction.
On the indicator level, bullish momentum has not waned, and the pullback is a technical correction.

Trading suggestion: 4530-4545 buy zone, target 4560-4600.
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