May 21 Wenjie Gold Evening Viewpoint



Yesterday, the US market tested lows and rebounded to close with a strong bullish candle. Today, after surging to 4570, it oscillated and pulled back. The overall bullish structure remains intact, with short-term high-level correction and consolidation; no signs of a one-sided decline.

The slight rebound of the US dollar suppressed gold prices from rising further. The market is mainly waiting for the Federal Reserve meeting minutes at 2 a.m. The short-term trend is mainly consolidating and shaking out; global central banks continue to buy gold, providing steady support for gold prices in the medium to long term.

Support: 4500 (short-term bull-bear dividing line), 4480-4450 (strong support)
Resistance: 4550, 4570-4580 (intraday resistance)

Wenjie's overall evening outlook: Buy low at the bottom, buy on dips back to 4500-4510, stop loss at 4480, target 4540-4570#现货黄金
GLDX-4.7%
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