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On the gold daily chart, from the red eagle tactics (moving average system), the price rebounded strongly and stood on the fast and slow line and then stepped back again. There is still strong support from the moving average below. This wave of decline can be regarded as the first wave of favorable retracement of the strong upward trend. The market outlook will continue to be bullish based on the indicator MD. Looking at the second golden cross below the axis diverging upward, the energy column increases significantly, but the overall rebound is weak, indicating that the pressure above is heavier, and more strength is needed for a rebound breakthrough. Therefore, it is recommended to operate at low prices in the short term and not look too far ahead.
On the golden hour chart, after a short-term strong rebound, the price was suppressed by the resistance of the downward trend line above. The short-term retracement is currently consuming kinetic energy. Below, pay attention to the strength of the suppression during the busy period of European trading to see if there is an opportunity. If you enter a long order and combine it with the strength indicator R, you can see that the risk turning point has turned weaker from the previous analysis, but the overall trend is still strong. The market still maintains an upward trend in the short term, so it is recommended to focus on buying back in the short term.
Operation suggestions at midday on May
Gold: Resistance and support
Silver: Resistance/./. Support././.
Due to short-term speculative short covering, the U.S. dollar index fell weekly On May 5th, the Asian session fluctuated and rebounded, once setting a two-session high. The euro fluctuated and consolidated against the US dollar, trading in the range. As the US dollar stopped falling and rebounded, spot gold set a new daily low. The US dollar/ounce was due to concerns about oversupply. Continuing to liquidate long positions and take profits, the main monthly contract of U.S. crude oil hit a daily low. USD/barrel Most Asia-Pacific stock markets fell back, and the Shanghai Composite Index closed down. Opportunistic short covering, the U.S. dollar index fluctuated and rebounded during the Asian session, once setting a two-session high point. The U.S. dollar rose and fell back against the Japanese yen, setting a new high for two trading days. The euro fluctuated and consolidated against the U.S. dollar, trading in the range. The British pound fell back against the U.S. dollar, setting a new low for two trading days. The Australian dollar fluctuated and consolidated against the U.S. dollar. Trading in the... range, USD/CAD climbed higher, setting new daily high as oil prices eased.
Crude oil: As the market is worried about the possibility of reaching an agreement to ease the global oversupply problem, and long positions are liquidated to take profits, crude oil shocks fell back. The main monthly U.S. crude oil contract hit a new daily low. USD/barrel Brent crude oil The main monthly contract fluctuated and fell to a new daily low of US$/barrel.
In terms of stock markets: Most of the Asia-Pacific stock markets fell back. The Shanghai Composite Index closed down .% at .00 points, the Shenzhen Composite Index closed down .% at .00 points, the Hang Seng Index closed at .30 points, down .%, and the Australian stock market closed up .% at .00 points. The Nikkei index fell .% to .00.
In terms of precious metals: As the US dollar stopped falling and rebounded, spot gold fluctuated and fell, hitting a daily low of US$/oz. Spot silver fluctuated and fell, hitting a new daily low of US$/oz.
International spot gold fell from its highs in the Asian and European markets on Friday (June 2), and indicators began to show signs of turning towards the short side. Focus on the upper edge of the daily high triangle shock range, pay attention to whether it breaks the position, and pay attention to whether the second surge breaks through the previous high. If the position is broken, step back and go long. If it does not break the previous high, continue to go short. Below, pay attention to the support performance of the resistance and USD/ounce. If the resistance is effective and the support is effective, you can continue to go long.
Gold operation suggestions
Upper resistance:, upper trend line
Lower support:,,
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