5.21 Wenjie Morning Market Outlook

Yesterday, gold prices dipped and then reversed to rise again, with prices gradually rebounding after reaching lows.
Capital inflows at the lows drove the market to warm up, and the current price has firmly held the key 4500 level.
The bullish trend is gradually recovering, and the medium- to long-term overall trend remains positive.
From a cyclical perspective, the overall bullish momentum remains intact, with the short-term chart in a high-level consolidation and accumulation phase.
Today’s market is likely to maintain a volatile and slightly strong trend, with the 4500 level still an important boundary for judging market strength.
Short-term resistance above is around 4580; if the price can effectively hold above this level, the upward space will further open.
Once the 4500 support zone is broken, the market trend will shift back into a weak consolidation state.
Intraday trading reference
After experiencing a pullback and rebound, prioritize low-level entry strategies today.
If the price retraces to the 4510-4520 range, consider entering positions; place stop-loss below 4500.
In the short term, look at the 4580-4600 area; if broken through smoothly, continue to target the 4630 level.