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【1.15 Gold Market Review】
Yesterday, gold started to gain momentum during the Asian session, with prices directly hitting a new historical high. This wave of momentum is indeed strong. By the European session, the market began to fluctuate, with prices oscillating around 4620. Although volatility increased in the evening, prices never fell out of the previous consolidation range, indicating that the bulls are still holding on tightly.
How does the technical outlook look? The 4650 resistance level is quite evident, but the support below at 4600 is very solid. Currently, the bullish pattern is still intact. If you want to go long, you can look for support levels to buy on dips — around 4580 is a good entry zone, with the first target set at 4640.