12.24 Zhao Jinyan: Gold Analysis | Don't Rush, Continue to Break New Highs
The market has never been one that shows its moves to impatient people. Those who can maintain their rhythm amid fluctuations are often the ones who can reap the true profits of the trend. The market offers few opportunities, but is generous when it comes to washouts; whether one can hold on depends entirely on their mindset.
From the current market perspective, gold quickly rose in the morning and then entered a high-level consolidation in the 4480–4500 range. Many people are starting to doubt whether the bull market is over. However, I see this more as a normal high-level washout rather than a trend reversal. The long positions that chased in at high levels need to be digested, and for the market to continue upward, consolidation is a necessary process. The overall structure still leans towards strength, and I maintain confidence in gold.
From the 4-hour level, the upward trend has not been broken, and the moving averages still maintain a bullish arrangement. In the short term, a pullback to the middle track is not ruled out, which corresponds to the previous low point of the upward surge in the 4430–4450 range. If the pullback occurs at the right level, it will instead be a process for bulls to recharge and push higher again. Until there is a clear reversal signal in the market, the strategy remains focused on buying the dips.
Suggestions:
Buy gold on the pullback to the 4450–4480 line,
With an initial target at 4510–4540,
If there is a volume breakout, further aim for 4550.
4380.
(The above content is merely personal opinion and trading record sharing, for reference only, and does not constitute investment advice. Please manage your risks and participate rationally.)
