5.29 Gold Morning Review: Rebound Meets Resistance and Falls Back, No Change in Short-Term Strategy

Market Review: Last night, gold rebounded from 4366 all the way to 4499, and this morning it started to decline upon opening. It’s now fluctuating around 4494, with the momentum of the rebound almost exhausted.

Trend Analysis: Although the 1-hour chart remains high, the price has already broken below the 5-day moving average, and upward momentum has stalled. The 4500-4510 level faces strong resistance; if it cannot break through, the bears still hold the advantage. The current rebound is just a correction after a sharp decline, not a genuine upward move.

Coco’s Suggestion: Today, continue to short on rebounds; the midnight strategy is still valid. When the price rebounds to around 4495-4515, consider entering in batches, but be sure to manage risk properly. Support levels are first at 4450, then 4430; if broken, look toward 4420. Don’t chase the rally; follow the trend to secure profits steadily.

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