5.28 Gold Midday Review: Accelerating Decline, Rebound for Shorting

Market Recap: The early prediction of "continued decline, rebound for shorting" was once again accurately fulfilled! In the early trading session, gold prices faced resistance in the 4465-4485 range and accelerated downward, touching a low of 4366.65, currently around 4372, with intraday decline expanding to 1.8%. The bearish force continues to dominate, fully aligning with Coco's rhythm judgment.
Trend Analysis: Both the 30-minute and 1-hour moving averages are in a bearish arrangement, and the Bollinger Bands are opening downward, with strong resistance formed in the 4410-4430 zone above; although the KDJ indicator is in the oversold area, no clear reversal signal has appeared, and short-term downward momentum is still being released. The overall bearish trend remains unchanged.
Coco's Advice: Continue to adhere to the idea of shorting on rebounds, and consider gradually entering short positions if the rebound reaches the 4400-4420 range, with strict risk control. The short-term target first looks at the previous low of 4366; if broken, it can go down to around 4330. The current decline is clear, and blindly bottom-fishing is strictly prohibited. Trading with the trend is the way to steadily grasp profits!
Disclaimer: The above analysis is for reference only and does not constitute investment advice. The market carries risks; please trade cautiously.