5.22 Cocoa Gold Evening Review: Weakness Unchanged, Continue to Look Bearish

Review of the market: The intraday trend fully confirmed the bearish judgment from the morning review, gold prices surged to 4559 and then steadily declined, reaching a low of 4507 in the evening, currently oscillating around 4517, overall showing weakness.

Trend analysis: From a technical perspective on the 1-hour chart, the price has been staying below the moving averages, unable to break higher, repeatedly testing the resistance levels at 4535-4550 but failing to break through; KDJ has already turned downward, indicating the upward momentum is weak, and the bears are in control. On the news front, the new Federal Reserve chair's hawkish expectations remain, and the dollar is rebounding, putting both ends of gold under pressure, leaving limited room for a rebound.

Cocoa's suggestion: Continue with the previous approach, short in batches around 4535 and 4555 if a rebound occurs, with the initial target near 4500, and if broken, then look at 4480. Cocoa reminds that the market is volatile, so be sure to set stop-losses and avoid holding large positions.

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