5.29 Gold Afternoon Review: The Bull-Bear Standoff Intensifies

Market Recap: In the early session, gold surged to 4520 but then faced pressure, and it is currently consolidating around 4510. Throughout the day, multiple attempts to test the 4500 level failed. The bullish rebound lacks momentum, and overall price action remains in high-level consolidation.

Price Action Analysis: In the news, the PCE month-over-month came in at +0.2%, missing expectations. The slowdown in inflation has temporarily eased fears of tightening, and the dollar’s pullback helped gold rebound. Technically, the 4500-4510 zone is strong resistance, and two upside attempts failed to break through. On the downside, 4460-4430 is a key support zone; as long as 4360-4370 is not broken, there remains an expectation for recovery/repair.

Cocoa Trading Ideas: Go short on rallies and go long on dips during the day. If price rebounds to 4515-4525, enter a light short position and target 4460; if it breaks 4528, cut the loss. If price pulls back to 4445-4460 and stabilizes, you can set up long positions, targeting 4490-4500; if it breaks 4430, cut the loss. With volatility increasing, be sure to keep positions light, use stop losses, do not hold out positions, and stay focused on the range-trading rhythm.

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