5, May 22 Morning Market Analysis and Strategy:



Yesterday, gold prices fluctuated back and forth with oscillations, and the overall trend completely aligned with my previous bearish outlook. Prices have been consolidating around the 4500 level for a long time, closing slightly higher at the end of the session, mainly driven by a decline in crude oil prices, with the market generally optimistic about a easing of the US-Iran situation.

From a geopolitical perspective, US-Iran negotiations have not yet been finalized, and short-term conflicts and frictions are likely to recur, with gold probably maintaining a wide-range oscillation, alternating between bullish and bearish.

Today, continue to adopt a range-bound trading approach, initially focusing on support at 4503-4513, with the first resistance at 4553-4559. If the bulls break through strongly, look further towards the resistance zone of 4578-4588. Market volatility is rapid, so proper position management and strict risk control are essential.

Recommended operations:
Buy near 4508-4513, stop loss at 4490, take profit at 4550

Sell near 4578-4588, stop loss at 4600, take profit at 4535!
GLDX-4.73%
XAU-0.09%
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