5.19 Gold Intraday Midnight Review: Breakdown and Drop, Focus on Short Selling

Market Review: Gold continued its intraday rally and decline in the evening, with bulls encountering resistance around 4589 and then sharply plunging, reaching a low of 4465. Currently around 4501, down by 1.42%. The morning's volatile and slightly bullish pattern has been completely broken, with the bears dominating the market rhythm.

Trend Analysis: From a technical perspective, the 1-hour chart shows the price breaking below the key support zone of 4530-4550. The moving average system has formed a bearish alignment, with short-term rebounds facing clear resistance; the area above 4530-4540 has become a strong resistance zone.

Trading Suggestions: Focus on short selling during rebounds, lightly position short orders within the 4520-4530 resistance zone, with a stop loss above 4550. The first target is 4480-4470, and if broken, look towards around 4450. During the decline, strictly control position sizes and avoid blindly bottom-fishing. If the price effectively recovers above 4540, consider adjusting the strategy.

Disclaimer: The above analysis is for reference only and does not constitute investment advice. The market carries risks; trade cautiously.