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Shen Jingyi 1.20 Gold Morning Review
Cold wave moving south, snow falling in many areas. How long can this wave of frenzy in gold prices last?
Recently, international tensions have shaken the markets, and risk aversion sentiment has been fully amplified. Gold prices have soared straight up, hitting new historical highs!
By closely monitoring the market, you can see: after reaching a new high of 4690 yesterday, the market has been stuck in a narrow range at high levels, unable to trigger another breakout. This indicates that 4690 is a short-term strong resistance!
Key point: Do not blindly chase long positions now! Unless there is a gap up opening today with a strong breakthrough above 4690 and a stable hold, treat this level as a short-term defense line for bears, and boldly bet on a decline! The support targets below are three levels: 4660 → 4653 → 4640!