5.18 Morning Gold Trend Analysis!
From the charts, we see resistance in the 4560-4580 range and support in the 4500-4520 zone! 4500 is a key defensive line with bears testing it multiple times! Currently trading around 4550, there was a slight bounce at the market open, but whether we see a reversal depends on breaking through the resistance zone!
Morning Strategy: If we pull back but don't break 4500-4510, look for 4580-4600. Defend at 4480 and avoid getting sucked into false breakouts.
If the upper resistance of 4560-4580 holds, first look for the previous lows at 4500-4510; if we break 4500, we continue to look lower!
This is just my personal view and not investment advice!
From the charts, we see resistance in the 4560-4580 range and support in the 4500-4520 zone! 4500 is a key defensive line with bears testing it multiple times! Currently trading around 4550, there was a slight bounce at the market open, but whether we see a reversal depends on breaking through the resistance zone!
Morning Strategy: If we pull back but don't break 4500-4510, look for 4580-4600. Defend at 4480 and avoid getting sucked into false breakouts.
If the upper resistance of 4560-4580 holds, first look for the previous lows at 4500-4510; if we break 4500, we continue to look lower!
This is just my personal view and not investment advice!
