5.21 Gold Morning Thoughts



1-hour cycle continuously closes with bullish candles, indicating increasing bullish momentum, no top divergence yet, short-term still has room to rise; however, the price is approaching the intraday high, and short-term indicators are overbought, so caution is needed for a pullback correction.
Gold price tested the bottom near 4453 twice before starting to rebound, successfully breaking through the two major resistances at 4514 and 4530, turning the trend from weak to strong; currently stabilizing above the 1-hour moving average system, with moving averages diverging upward, indicating strong support.

Trading Suggestions

Long positions: Stabilize around 4540-4550 for entry, stop loss below 4535, target 4580, break to watch 4600

(Just personal opinion, for reference only)
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PAXG-0.06%
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