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1.26. Jing Yi Gold Evening Review
Gold prices surged by 2.20 intraday, reaching a high of 5111.15, a strong unilateral rally!
Why did it rise so sharply? Risk aversion sentiment is soaring + expectations of Fed rate cuts are heating up! The price remains firmly above the short-term moving average, rising almost without any pullback, with bulls firing on all cylinders.
We are watching key levels: the previous high at 5111 above, breaking through could see 5150; the important support is at 5060-5070, and a break below could lead to a decline towards 5030.
Trading Suggestions
Still mainly look for long opportunities on pullbacks! If it stabilizes around 5070-5080 after a dip, go long with a small position, stop-loss below 5060, first target is a breakout above 5110, then aim for 5130-5200. If it directly breaks below 5060, be cautious of short-term strength, as it may pull back to around 5030-5000.