5.21 Gold Intraday Morning Review: Pullback Confirms Support, Bullish Trend Unchanged



Market Review: Earlier gold surged to $4,570 per ounce in the morning before dipping slightly. It is currently trading around $4,535. The bullish outlook from the morning review was realized as the price rallied. This pullback is a normal retreat during the upward move, and no trend-reversal signals have appeared.

Price Analysis: From a technical perspective, on the 1-hour timeframe the price is still holding above the 20-day moving average (above 4524), and the bullish structure remains intact. In the short term, there is still a need for rebound and repair. After the pullback to the key support area, the uptrend will most likely continue. During the day, priority should be given to trend-following low-buy opportunities, and no counter-trend short positions should be taken.

Trading Recommendations: On the pullback to the 4520-4530 range, you can enter long positions in batches. For short-term targets, first look at 4550-4570; after a breakout, higher levels can be targeted. Hold positions in line with the trend.

Disclaimer: The analysis above is for reference only and does not constitute investment advice. The market carries risks; enter the market with caution.
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