5.29 Evening Gold Outlook


Gold is going crazy! Is this pullback tonight a buying opportunity or a trap?

From the news perspective, the PCE inflation data that the Federal Reserve is watching is basically in line with expectations, and market expectations for a Federal Reserve rate cut are still fermenting. The weakening of the US dollar index supports gold prices, and short-term bullish sentiment is relatively strong.
On the technical side, both the 1-hour and 30-minute charts are above the 5/10/20-day moving averages, with moving averages in a bullish arrangement. The KDJ indicator is in the high zone, indicating short-term overbought conditions and a slight pullback demand. Key resistance is at $4,543, and support is at $4,520.

Finally, Teacher Yan Yan's trading strategy: the intraday bullish trend is clear, but do not chase longs at high levels. Lightly buy on dips around $4,520–$4,530, targeting $4,540–$4,543. If the breakout fails, try a light short near $4,540, targeting $4,530–$4,525. #黄金下跌 #黄金
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