2026-01-20 00:29:13

Gold continues its recent oscillation pattern, and the direction remains unclear.

Currently, gold prices continue to fluctuate within the established range, and the trading strategy is relatively clear—still focus on the lower boundary support of the range, and look for opportunities to catch rebounds. The key support level at 4656 has been tested multiple times, forming a certain defensive foundation, which is worth paying close attention to.

There is no need to rush into the market; patiently wait for a pullback to an ideal position before considering entering.

If gold falls back to the 4656-4658 area, consider scaling in with small positions to go long,

Stop-loss reference below 4646,

Initial target around 4675; if the price can stabilize and break through, then further attention can be given to the resistance near 4690.

The current market is still in a phase of consolidation and accumulation, with the bullish and bearish directions not yet clear. Patience and proper timing are key. Wait for the market to establish a clear direction, then follow the trend. $XAU

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