5.20 Gold Morning Outlook



From the 1-hour timeframe, it still appears to be a biased downward oscillation, with weak rebound strength. Each rebound to the short-term moving average is met with resistance and pushed down again.

If the price rebounds to the 4495-4500 range during the day, there is a high probability of encountering resistance and falling back, as this is the confluence resistance of MA10 and the current price.

If it breaks below the previous low of 4465, the bears may push for another wave down, testing lower support levels.

Only if the price stabilizes above 4520 can the current 1-hour downtrend be potentially reversed; otherwise, all rebounds should be viewed as weak rebounds.

Trading Suggestions
Buy within the 4495-4505 range, targeting 4475 and 4425.

If the rebound reaches the 4510-4520 range, consider a second buy, targeting 4490 and 4440.
PAXG-1.39%
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MysteriousSpeculator
· 1h ago
Steadfast HODL💎
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MysteriousSpeculator
· 1h ago
Buy the dip 😎
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