5.21 Morning Gold Outlook

On the hourly chart, it has continued to close bullish candles in succession, and bullish momentum is being released steadily. Currently, no top-bearish hidden divergence pattern has appeared, so there is still upward momentum in the short term. However, as the gold price approaches the previous high, the indicators enter overbought conditions, so be cautious of a short-term pullback and correction.

After a second dip at 4453, the market formed an upward structure. It consecutively broke through two resistance levels at 4514 and 4530, and the trend shifted from falling to rising. Gold is rising steadily along the moving averages, with a bullish structure taking shape initially, and solid support below.

Trading ideas:
Long positions: If it stabilizes around 4520-4540, you can enter. Target 4560; for a strong push, look toward 4600.
Short positions: If it meets resistance around 4555-4570, sell/short. Target 4520, with further downside to 4480#TradFi交易分享挑战 #Polymarket每日热点 .