#黄金技术分析 #24K99讯 At the end of the Asian market on Tuesday (May 14), spot gold suddenly fell rapidly in the short term. The price of gold had just fallen below the $2,340 per ounce mark, and the intraday increase narrowed to around $1. Economies.com, a well-known financial information website, recently wrote an article on Tuesday analyzing the technical prospects of intraday gold.

According to Economies.com, unless it falls below the important level of $2325.90 per ounce, the outlook for gold prices will remain bullish.

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

Economies.com wrote in the article that judging from the 4-hour gold chart, the price of gold once hit the 50-period exponential moving average (EMA). After today's trading began, the price of gold began to rebound, thus strengthening expectations that the price of gold would resume its main bullish trend. The stochastic indicator is clearly sending positive signals. Waiting for this factor to push the gold price to hit the first bullish target of 2,400.00 US dollars/ounce, and the higher target is looking at the recent record high of 2431.44 US dollars/ounce.

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

As a result, we are waiting for the price of gold to rise further in the next few trading sessions, according to Economies.com. It should be pointed out that if it falls below $2325.90 per ounce, this will put additional bearish pressure on the gold price and fall to the 38.2% Fibonacci retracement level (around $2260.60 per ounce).

Economies.com predicts that today's gold price trading will be between the support level of $2325.00 per ounce and the resistance level of $2365.00 per ounce.

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

At 14:41 Beijing time, spot gold was reported at 2336.98 US dollars/ounce.