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5.21 Noon Gold Looks Favorable for Short-term Dip
Midday gold surged higher then oscillated at high levels, initially rising then slightly pulling back within the day, with the overall bullish trend still in place, but the short-term gains are too large, leading to profit-taking pressure.
Technically, gold prices are overbought at high levels, and the upward momentum has weakened, entering a short-term oscillation correction phase.
Trading suggestion: buy on dips at 4520-4530, target 4560-4580, stop-loss at 4515, and consider turning to short if broken.
Do not chase highs; focus on buying on dips during pullbacks. When facing resistance at high levels, take light short positions. Pay close attention to the Federal Reserve meeting minutes tonight and their impact on gold prices. #黄金##现货黄金#