January 14 Gold Morning Outlook

News Analysis
1. Federal Reserve Policy Expectations: U.S. manufacturing data for January was impressive, delaying rate cut expectations, and the dollar strengthened, suppressing gold prices.
2. Risk Aversion Easing: The Middle East conflict has not escalated, funds are withdrawing from safe-haven assets, causing gold to lose upward momentum.
3. ETF Holdings Changes: The world's largest gold ETF holdings decreased, and institutional cautiousness has intensified the pullback pressure.
Technical Analysis
From the daily chart of gold, yesterday's price surged strongly, recording a large bullish candlestick, and hit a new all-time high. The MACD indicator remains in a bullish crossover phase, indicating that bullish momentum has not yet exhausted, and the market may continue to rise. Focus on the support level of the MA5 moving average.
On the four-hour chart, gold price has been rising after finding support around 4310, reaching a high of about 4630. However, a certain correction has occurred, and the MACD lines are beginning to turn downward. Intraday, watch whether the MA10 can provide effective support.
Support levels are around 4530-4525, with resistance at 4620-4625.
Trading Strategy
Buy near 4570-80 with targets at 4600-10-20-35
Sell near 4635-4640 with targets at 4600-4580