On January 12, it has been consistently emphasized that the bullish pattern for gold remains intact; naturally, the strategy should continue to prioritize buying on dips. After breaking above the 4500关口 and surpassing the historical high of 4550, one can continue to anticipate further bullish extension. The premise of following the trend is not fearing high prices. Although the price is sky-high, such is the trend. Trying to guess the top out of fear of heights will likely not end well, especially since the market price has shown significant acceleration after each new high, a point that has been repeatedly mentioned.
Last Friday's market movement fully aligned with expectations. During the day, it was emphasized that gold should use the area below the morning session low of 4452 as the bullish defense level to look for low points to布局多 and watch for gains. Breaking above 4500 would warrant直接多 targeting the historical high of 4550. Once that historical high was breached, it would further open up upside space, allowing one to confidently anticipate accelerated bullish movement. On Friday evening, the gold price retreated to touch 4459 before rallying sharply, and after breaking through 4500, it continued its rise as expected.
Without further ado, look at the chart. In the morning session, gold has already broken through the previous high of 4550, accelerating sharply to the $4600关口. After breaking the historical新高, the bulls have opened further upside空间. A rise of 90 dollars within two hours undoubtedly illustrates the current strength of the bulls. Currently, it is facing pressure and correcting lower around the $4600整数关口. This pullback is precisely an opportunity to 'reverse and pick up passengers' – a chance to buy on dips. After a short-term wait for a回调, the strategy should still predominantly be to go long, buying on dips and寻找支撑布局; this is without question. The key support level below is around the 4550 line; the former resistance of the historical high, once broken, now forms inverse support. Today, using this顶底转换支撑位 as the defense level, we directly看涨,无限看高不猜顶. The next stop is at the horizon. Once it stabilizes above 4600, we again watch for it to soar into the sky, just as I have said before: when the wall falls, everyone pushes. After a key level is broken upwards, we generally look for a rise starting from around 100 dollars. Intraday operation reference: Go long on gold around 4462, protective stop at 4550, target 4600. If 4600 is broken, directly go多 to watch for bullish放量 acceleration, targets 4700, 4800.
Comments