5.20 Midday Gold Outlook

Early in the morning, accurately predicting that gold would continue its downward trend, providing a short-selling strategy at high levels. The market indeed declined from $4509 all the way down, touching a low of $4453, perfectly fulfilling the bearish expectation, with rhythm control and timing precise.

News: The market's expectation of a Federal Reserve rate hike continues to rise, with U.S. Treasury yields and the dollar strengthening in tandem. Coupled with inflation concerns from rising oil prices, gold performance remains suppressed, and bearish sentiment is strong.
Technical: The 1-hour moving averages are arranged in a bearish configuration, with the MACD green bars continuing to expand, indicating ongoing bearish momentum. Key support is at $4450, with resistance moving up to around $4485.

Trading Strategy: The trend is clearly bearish, mainly shorting on rebounds. Light positions can be taken on short trades in the $4480-$4490 range, targeting $4460-$4450. If broken, the position can be extended toward $4430. #黄金 #黄金下跌