2026-01-20 02:20:22

The gold market continues to send strong signals. Yesterday, gold prices once again hit a record high, reaching a level of 4690 USD/ounce, before entering a consolidation and correction phase. Today, during the Asian session, the trend showed a dip, with a brief decline to around 4659 before rebounding sharply. Currently, the price is trading near 4667 USD.

From a daily chart perspective, gold remains in a clear upward trend structure, exhibiting a oscillating upward movement. Notably, the recent pullback was relatively mild, with no sustained downward trend forming, indicating a predominantly bullish overall structure. Further observation of the hourly chart shows that after recent continuous oscillation and adjustment, the price has moved up another step in the short term, now re-entering a zone of oscillation and correction. Short-term resistance is concentrated around 4680, while support below is near 4655.

After a quick bottoming at 4659 in the morning, the price immediately started to rise, demonstrating strong buying enthusiasm. In the context of a generally bullish structure, as long as the support level below is not broken intraday, the bullish outlook remains unchanged.

**Technical Trading Suggestions**: Consider establishing long positions around 4660-4650, targeting the 4700-4730 zone. Set risk protection at 4630.

Market Reminder: Gold trading is highly volatile, with risks and rewards coexisting. Investors should participate cautiously according to their risk tolerance. Technical analysis is for reference only; market conditions change rapidly. Monitoring key support and resistance levels closely is crucial.

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SelfRugger

· 2h ago

Gold prices are hitting new highs again and again, this bullish run is really impressive. Daring to touch 4690, the morning plunge was quite scary, but luckily it rebounded. It feels like this round of volatility is just a shakeout, waiting for a breakthrough above 4730.

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GasWaster

· 13h ago

lol gold pumping again but all i can think about is the bridge fees to even get in on this... 4660 entry sounds clean until you realize what it costs to move capital across networks ngl

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MysteryBoxBuster

· 13h ago

Already hitting new highs again? Dare to touch 4690? This move is really aggressive --- Bullish buying is so active, no wonder the rebound is so quick --- Just worried about a trend reversal, it looks okay for now but must defend 4630 well --- Can 4700 really be broken? Feels like there's quite a bit of resistance ahead --- This rhythm is so comfortable, it bounces back immediately, a typical bullish trend --- Should I enter now or wait? I'm a bit conflicted --- Only dare to chase after breaking 4680, I don't really want to move at this position

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orphaned_block

· 14h ago

Already hitting new highs again? Is this really the case or just a fake breakout? I always feel that gold is too easily manipulated. Gold is reaching new highs again, but I still have some doubts about how long this wave can last. It has already touched 4690. How desperate must the bears be to bounce back so quickly? But then again, rapid surges like this are most vulnerable to a pullback. It rebounded at 4659 this morning? Too fast, it feels like there's a big player accumulating. So many people are bullish, but that actually makes me a bit nervous. When all opposing voices disappear, that's when you should be on alert. Support at 4655? Honestly, I’m losing faith in these specific levels; it mainly depends on the flow of funds. Once again, technical analysis is giving advice. As I always say, the market doesn’t listen to our analysis. Are the bulls really that strong? It feels like everyone is just holding on stubbornly. If it breaks 4630, then it’s really a problem. But it’s still too early to say anything.

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MentalWealthHarvester

· 14h ago

Gold hits a new high again, this wave is really quite fierce The bullish sentiment is really strong, the 4659-second rebound was perfect Waiting to buy around 4650, targeting 4730, to bet or not? It's all technical analysis again, no matter how eloquent, in the end, it still depends on the market's mood Every day new highs, I'm a bit numb to it all, how long can this wave last?

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