5.21 Midnight Gold Analysis

Today’s gold market perfectly confirms the forecast, with spot gold initially rising then falling within the day, surging to 4570 before a one-sided decline, with bearish forces fully dominating, establishing a clear downtrend.

From a news perspective, the new Federal Reserve Chair Powell’s hawkish stance continues to ferment, with the market betting that he will maintain high interest rates and accelerate balance sheet reduction; US initial jobless claims for the week ending May 16 were 209k, below the expected 210k, reinforcing tightening expectations due to employment resilience, and the US dollar and US bonds strengthened simultaneously, suppressing gold prices.

Looking at the technical side, both the 30-minute and 1-hour charts broke below the middle band of the Bollinger Bands, with the MACD green bars continuing, and the KDJ death cross diverging downward, indicating a short-term bearish trend; however, the 4480-4490 zone is a strong support at the lower Bollinger Band, suggesting a technical rebound is needed.

Finally, Teacher Yan Yan provides the trading strategy: in the short term, follow the trend to go long on dips, short at 4520-4530 during rebounds, targeting 4490-4480; if it breaks below 4480, then go short towards 4460. #黄金 #黄金