5.23 Cocoa Next Week Market Forecast: Weakness Continues, Still Bearish

Review of the Market: This week's trend fully confirms the previous bearish outlook, with gold prices rising to 4546 and then steadily falling back, with a low of 4490, currently fluctuating around 4507, remaining generally weak.

Trend Analysis: From a technical perspective, in the 30-minute and 1-hour timeframes, the price has been consistently below the moving averages, unable to break through. The resistance levels at 4535 and 4555 have repeatedly been tested but not surpassed; the KDJ indicator is also in the bearish zone, indicating no strength in the rally, with the bears holding the upper hand. On the news front, the Federal Reserve's hawkish expectations remain, and the dollar is rebounding, putting pressure on gold from both sides, limiting its rebound space.

Cocoa's Advice: When the price rebounds to around 4535 and 4555, consider taking partial short positions. The initial target is near 4490, with a further look at 4465 if support breaks. Cocoa reminds traders that the market is volatile, so be sure to set stop-losses, avoid holding large positions, operate with light positions, and follow the rhythm carefully to seize stable opportunities.

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