2026-01-15 00:25:43

Yesterday's market once again staged a dramatic reversal. Gold opened early at 4631, surged strongly to 4642 to hit a new all-time high in the morning, but by the close, it was hammered down hard, ending at 4629. This candlestick may look unremarkable, but in fact, it is a classic shooting star with an engulfing pattern—long upper shadow, very small real body. In plain terms, it reflects intense battle between bulls and bears at high levels and also hints at a possible correction ahead.

Why did this happen? Broadly speaking, the recent strong rally is supported by logical factors. Central banks worldwide have been continuously buying (, which is a structural demand ), the US dollar remains weak under expectations of Fed rate cuts, and geopolitical tensions have heightened risk aversion. These combined factors indeed can push gold prices to break new highs. However, yesterday, the US dollar index unexpectedly rebounded, and some investors hurried to lock in profits at high levels. When these two forces collided, the bullish momentum began to weaken.

How to operate today? The core is two words—caution.

The resistance zone above is between 4620 and 4635. The new high of 4642 yesterday formed a strong resistance level. If it cannot be broken through, the downward pressure from bears will continue to build. Looking at the lower side, the first support is around 4570 to 4580, which was a stable area during yesterday’s decline. If it really breaks below, then we need to watch whether the core support band at 4550 to 4560 can hold.

The long positions in hand need to be carefully protected against risks. The low-position orders previously set can consider reducing some positions to lock in profits, and wait until the pattern clarifies before making further plans.

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just_another_fish

· 01-17 23:48

This sell-off is really fierce, dropping from 4642 to 4629 in an instant. Are the bulls about to be wiped out?

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GateUser-1a2ed0b9

· 01-17 09:45

Here comes the old trick of dumping at high levels again, and the bulls are directly wiped out, need to cut positions and run. --- Seeing the top at 4642, it's never a good sign. Just look at this inverted hammer; it's clear the bears are about to take action. --- The dollar's rebound is obvious right away—whether it has strength or not. Gold is overestimated this round, and we need to be cautious. --- That candlestick yesterday really had me scratching my head. Clearly aiming for a new high but was hammered back down—typical trap to lure in buyers. --- Holding 4570 is crucial. If it breaks below this line, it’s time to look downwards; feeling a bit timid. --- The central bank's buying supports the market, but this dollar rebound is all in vain; risks still need to be guarded against. --- I've already halved my low-position orders; the rest will wait until the pattern is clearer—I don't want to get caught. --- Really didn't expect such a fierce sell-off at the close. The bulls and bears fighting like this shows there's no consensus yet. --- The 4620 to 4635 range is holding tight. If it can't break through, it will be truly dangerous.

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MagicBean

· 01-16 10:42

It's the same old trick of getting hammered at high levels. As I always say, don't expect to fly unless you break 4642. Long positions should be reduced if necessary.

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MetaverseMigrant

· 01-15 00:55

It's the same old trick again. The bagholders at high levels should back off. I truly believe that 4642 won't break.

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FlashLoanKing