5.26 Midday Gold Outlook

Today, Teacher Yan Yan's early prediction was to go short, with the morning rally pushing back to 4580, then a sharp plunge through the breakdown point, dominated by a bearish trend.

From the news perspective, the market is betting that the new Federal Reserve Chair Powell will keep interest rates high for longer, with the expectation of rate cuts this year completely reversed, even pricing in a December rate hike; the 5-year US Treasury yield hit a new high for the year, and the dollar's strength continued to suppress gold, compounded by light liquidity during the US holiday, amplifying downward volatility.

Regarding technical analysis, the 30-minute and 1-hour moving averages are all in a bearish alignment, MACD green bars are continuously expanding, effectively breaking below the key support level of 4550, opening a short-term downtrend channel. The first support below is at 4510, with a strong support at 4490.

Finally, Teacher Yan Yan's trading strategy: the oscillation logic has been broken, shifting to mainly trend-following short positions. During rebounds to the 4540-4550 range, take partial shorts targeting 4510-4490; do not bottom fish for now, and if it breaks below 4490, follow the trend to short further. #黄金： #黄金