Gold Technical Analysis, May 15

📊Yesterday, gold stabilized at 3222 and then rebounded weakly, with the high point stopping at 3244. Then it fluctuated and consolidated in the European session. During the US session, gold fell below the 3200 integer mark, triggering the acceleration of shorts. The lowest intraday price dropped to 3168. The technical side confirmed that the key support of 3200 was lost. The daily closing line has a large negative line, reflecting the continuity of the short-led trend, and there is still room for further decline in the market outlook.

📊From the overall structure, after the peak signal near 3500, the rebound was only to lure longs. The current market is still based on retracement as the main line, and the mid-term target area below is initially looking at the 2950 line. Although the decline may be accompanied by repeated shocks and short-term rebounds, short selling still needs to be the main idea.

📊From the short-term structure, gold does have a technical repair demand after a sharp decline, but under the current strong short background, the repair method is more likely to be mainly shock adjustment rather than continuous rebound. Intraday, the price of gold rebounded at 3120, and the high point of the rebound reached 3163, but the rebound was more due to the short-term profit-taking of short positions. Overall, it is still a technical repair in a weak situation, not a trend reversal.

✅At present, two key suppression areas need to be focused on:
🔴3168: the low point of the previous decline, with strong pressure characteristics;
🔴3192: the starting point of the early decline, which is a short-term long-short watershed.
🔰If the rebound of gold prices is still limited to the above area, the bearish thinking will continue to be maintained, and the market is expected to further break the previous low of 3120 and test the support below.

✅Direction of intraday trading strategy:
🔰If the price rebounds to 3168 or 3192 and is blocked, short orders can be arranged at an appropriate time;
🔰If the price falls below 3120, short orders can be added, with the target looking at 3100 or even 3088;
🔰If 3192 is effectively broken and stabilized, the short-term short rhythm will slow down, and it is necessary to wait and see for a new direction.

✅Trading strategies are time-sensitive. We will provide members with real-time and accurate trading strategies based on market changes. Short-term trading requires flexibility, timely adjustment of positions, strict risk control, and ensuring that you are not affected by large fluctuations.