On May 13, gold continued its wide-range consolidation pattern on the daily chart, fluctuating between 4650 and 4780. The price has repeatedly tested the support level of the previous trading range, but the short-term moving averages remain in an upward divergence pattern, suggesting a potential continuation of the uptrend after the current adjustment. The key support level to watch for the day is around 4790. However, the hourly chart reveals signs of short-term weakness, with candlesticks showing consecutive peaks followed by pullbacks and long upper shadows, gradually breaking below the short-term moving averages. This has caused the moving average system to begin turning downward. Additionally, certain divergences have appeared in the technical indicators on smaller timeframes, necessitating close attention to the upcoming short-term adjustment and correction. Overall, while the daily chart maintains a consolidation bias with a bullish tilt, the short-term outlook faces increasing pressure for a technical correction.

Gold Trading Suggestion: Enter a short position at the current price range of 4708-4713, with a stop-loss at 4725 and a target of 4670-4650.