#黄金技术分析 #24K99讯 At the end of the Asian market on Thursday (May 9), spot gold suddenly rose rapidly in the short term. The price of gold was approaching the $2,320 per ounce mark and climbed more than $10 during the day. Economies.com, a well-known financial information website, wrote a new article on Thursday to analyze the technical prospects of intraday gold.

According to Economies.com, if the price of gold breaks through $2325.90 per ounce, gold will stop being bearish.

(5 minute chart of spot gold source: 24K99)

Economies.com wrote in the article that yesterday the price of gold stabilized around $2310.00 per ounce, with no significant fluctuation. The expected bearish trend scenario remained unchanged during the day. The goal is to test the 38.2% Fibonacci retracement level of $2260.60 per ounce, which is also the next major target for gold prices.

(4-hour spot gold chart source: Economies.com)

According to Economies.com, judging from the 4-hour gold chart, the 50-period exponential moving average (EMA) continues to support the bearish trend of gold prices. Unless the price of gold breaks through $2325.90 per ounce and the day closes above this level, the bearish expectation will remain valid.

Economies.com predicts that today's gold price trading will be between the support level of $2290.00/ounce and the resistance level of $2325.00 per ounce.

According to Economies.com, today's expected trend for gold prices is bearish.

At 13:31 Beijing time, spot gold was reported at 2319.31 US dollars/ounce.