5.28 Gold Morning Review: Downtrend Continues—Short Pullbacks from High Levels

Market Recap: Overnight, gold was driven by bears, with price pressured and moving lower from around 4512. In the afternoon, selling accelerated and the price broke key levels, dipping as low as 4401. It is currently around 4459, with the intraday drop exceeding 1.5%, and bulls have shown no resistance.

Trend Analysis: On the 1-hour chart, moving averages are aligned in a bearish arrangement, and the Bollinger Bands are opening downward. The midline around 4478 is a strong resistance zone. While the KDJ indicator shows a slight upward turn, it has not formed an effective rebound signal. Short-term downside momentum is still ongoing, and overall the bearish trend remains dominant.

Koko’s Recommendation: In the morning, stick to a high-level shorting approach. If price rebounds to around 4465-4485, sell in batches, and be sure to set and strictly follow stop-loss levels. Initial targets are 4430 and 4410; if those levels are broken, you can look toward around 4380. The current downtrend is clear—never try to blindly bottom-fish. Keep positions light and use stop-losses. Following the trend is the way to go.

Disclaimer: The analysis above is for reference only and does not constitute investment advice. The market is risky—proceed with caution when entering the market.