5.21 Gold Intraday Midnight Review: Rushing Upward and Falling Back, Short-term Bearish Outlook

Market Review: The intraday trend perfectly confirmed Coco's early prediction! Gold prices surged to 4570 then faced resistance and pulled back, touching a low of 4488, currently oscillating around 4506. The pattern of weakening at high levels was accurately anticipated, and bearish signals are gradually confirming.

Trend Analysis: From a technical perspective, the price broke below the 20-day moving average on the 1-hour chart, with a lack of rebound strength; the KDJ indicator has turned downward from a high level, indicating bearish momentum is being released. On the news front, the hawkish expectations for the new Federal Reserve Chair continue to suppress gold prices, and short-term policy tightening expectations directly negatively impact gold. Coupled with the recent rebound of the US dollar index, gold priced in dollars is under obvious pressure, and the short-term trend is likely to continue oscillating downward.

Trading Suggestions: Focus on shorting during rebounds at midnight, short around 4515, targeting about 4535. The short-term targets are first at 4490, then around 4470. If broken, look further down to the 4460 level.

Disclaimer: The above analysis is for reference only and does not constitute investment advice. The market carries risks; please trade cautiously.