Yesterday, gold experienced a significant rise after a consolidation, completely aligning with Chen Nan's analysis!
Yesterday, the opening price of gold was $4443.8, and it surged right from the start. During the Asian and European sessions, it continued to rise strongly, reaching a high of $4498 in the European session, after which it entered a sideways consolidation. When the U.S. session began, gold suddenly dropped sharply. We had already placed a long position at $4448, which was particularly precise! This time, gold's lowest drop only reached $4447.7, and our long position entered perfectly, almost buying at the lowest point of this rebound. After that, gold indeed rose to $4459.5, making us nearly 1200 points profit, which everyone saw!
Next, gold started to decline again at $4459.5, dropping to a low of $4430.5 before rebounding. In the later session, it surged strongly again, and it has now risen to $4517.5, showing particularly fierce momentum. The daily line formed a large bullish candle with a slightly longer lower shadow than the upper shadow. After such a trend emerges, today gold will definitely still be bullish, and there is room for further increases.
Today, the focus is on the support level at $4453. If it retraces above this level, we can go long, with the initial target set at $4570. The specific operational points should still be based on Chen Nan's real-time layout.
