January 19th Gold Evening Strategy:

High-level oscillation does not change the bullish trend; pullbacks remain a good opportunity to buy in.

The market does not move in a continuous upward or downward trend; oscillation is a resting station on the way up. Today, gold hit a new high of 4690 before pulling back in a volatile manner. The US market closes early tonight, with fluctuations mainly concentrated at the end of the Asian and European sessions. Don’t rush to chase highs; wait for a pullback to stabilize before entering the market, which is the most stable rhythm at present.

Trade tensions between the US and Europe, geopolitical conflicts, and safe-haven demand have pushed up prices. Central bank gold purchases and expectations of Federal Reserve rate cuts support gold prices. Additionally, liquidity is tight during the US market holiday, so be alert to short-term oscillations caused by profit-taking by bulls.

The daily chart shows a bullish arrangement with the MACD golden cross and red bars not shrinking, indicating the bullish foundation remains intact. The 4-hour chart shows a rise followed by a pullback, with RSI retreating from the overbought zone, indicating short-term consolidation.

Conservative traders should wait for a pullback to stabilize around 4640-4650 before going long, with a stop loss at 4635. Targets can be set at 4680-4685, and if broken, look towards 4695-4700.

Aggressive traders can try a small long position near 4660 at the current price, with a stop loss at 4650, targeting 4680. Reduce positions when encountering resistance.

Short positions should only be attempted lightly when encountering resistance around 4685-4690, with a stop loss at 4700, aiming for 4660-4650, and exit upon profit.

The above is only personal advice for reference and does not constitute investment advice. Please follow Jing Sheng Shi Pan’s layout for specifics!