May 26 Gold Morning Review

Based on the 15-minute chart, the short-term bearish trend for gold has already taken shape, with prices surging higher then quickly plunging, losing the short-term support level, forming a pattern of rising then falling back. The bullish momentum in the market is gradually diminishing, and the bears are gaining dominance!

The highs on the chart continue to move lower, with rebound momentum steadily weakening. The price has difficulty breaking through previous highs, and selling pressure above is very evident. Currently, the moving average system has shifted from support to resistance, with gold prices continuously trading below the moving averages, showing a stepwise downward trend!

At this stage, the market is experiencing slight sideways consolidation, merely a brief pause during the decline, and the overall bearish pattern remains unchanged. All technical indicators are also weakening, with bulls struggling to mount a strong counterattack. If the short-term rebound cannot effectively break through the key resistance zone, the downtrend is likely to continue!

In terms of trading strategy, it is recommended to focus on shorting during rebounds, gradually entering short positions around the resistance zone of 4570-4555, with target levels at 4530, 4500, and 4480! #黄金 $XAUT