5.13 Gold Morning Review

Yesterday, the United States’ April CPI data came in bearish, causing spot gold to plunge sharply, with a single-day decline of more than $135. Today, focus on the United States’ PPI data and EIA crude oil inventories—these two data points will drive the market’s intraday direction.

The US dollar is currently fluctuating slightly, and the market is waiting for signals on Federal Reserve policy, giving gold a short-term rebound opportunity. The four-hour uptrend remains intact. The gold price has stabilized after falling, gradually recovering—having broken above the middle band of the Bollinger Bands and nearing the pressure zone of the upper band.

The key short-term pressure is 4726, and the key support is 4692. The Bollinger Bands are opening slightly, and the bullish structure remains unchanged. However, there is a risk of an overbought pullback in the short term. As long as the middle-band support is held, the rebound setup may continue.

Key levels

• Resistance: 4730, 4750

• Support: 4700, 4690, 4680; if price weakly dips, watch 4670–4650

Trading ideas

If gold falls back into the 4700–4680 range, buy in batches. If it moves upward directly, follow the trend near 4710, with targets looking toward 4730–4750.#Gate广场五月交易分享 #外汇黄金