1.19 Gold Evening Review: Bulls Remain Unchanged! Pullbacks Are Good Entry Opportunities
The gold market in the white session dipped to 4617 and stabilized, then rose sharply, breaking through the previous high to reach 4690 before pulling back to around 4665 for consolidation. The intraday surge was 1.52%, with the overall trend remaining strong. Tonight, a long position at 4659 is recommended with a stop-loss at 14 points.
On the news front, Martin Luther King Jr. Day has cooled market trading, combined with geopolitical tensions and the Fed's rate cut negotiations heating up, providing strong support for gold prices.
Technically, after breaking out of the consolidation zone on the hourly chart, resistance was encountered at 4690. The moving averages are in a bullish alignment, and RSI remains in a relatively strong zone. A short-term pullback is just a normal correction, and the bullish trend remains solid.
Trading Strategy: A steady rebound from the 4640-4650 zone is a good entry point for longs. The initial target is 4680-4690. If the previous high is broken, look for further gains above 4700+.
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1.19 Gold Evening Review: Bulls Remain Unchanged! Pullbacks Are Good Entry Opportunities
The gold market in the white session dipped to 4617 and stabilized, then rose sharply, breaking through the previous high to reach 4690 before pulling back to around 4665 for consolidation. The intraday surge was 1.52%, with the overall trend remaining strong. Tonight, a long position at 4659 is recommended with a stop-loss at 14 points.
On the news front, Martin Luther King Jr. Day has cooled market trading, combined with geopolitical tensions and the Fed's rate cut negotiations heating up, providing strong support for gold prices.
Technically, after breaking out of the consolidation zone on the hourly chart, resistance was encountered at 4690. The moving averages are in a bullish alignment, and RSI remains in a relatively strong zone. A short-term pullback is just a normal correction, and the bullish trend remains solid.
Trading Strategy:
A steady rebound from the 4640-4650 zone is a good entry point for longs. The initial target is 4680-4690. If the previous high is broken, look for further gains above 4700+.