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May 19 Evening Gold Analysis
Intraday, gold surged to 4588, faced resistance and pulled back, falling to 4531 and stabilizing, overall showing a weak consolidation.
The hourly Bollinger Bands are opening downward, indicating a clear bearish trend. Gold prices surged and then fell back, breaking below the middle band, with rebounds and attempts to test resistance failing, showing insufficient bullish momentum.
Currently, the market is just a minor correction after the decline, not a reversal. There is ample resistance above, and the overall trend remains weak.
Trading should focus on shorting at higher levels, short around 4555-4570, with targets at 4520-4500. #黄金