2026-01-16 00:59:30

Gold continues to fluctuate on the strong side, with the focus remaining around 4585 for long positions during the day.

Yesterday, gold supported around 4582 as expected, which aligns with my forecast. However, the upward momentum was limited, and the overall trend was mainly sideways. In the short term, it faces resistance near 4625 and has not been able to break through effectively. Currently, the pattern remains a high-level sideways movement with a slight bullish bias. The strategy of buying on dips with the trend remains unchanged. Going forward, focus on low buys around 4585, and pay attention to the key resistance levels at 4626 and 4649. If a strong breakout occurs above the 4645-50 zone, the upward trend may continue further. Of course, if it falls below 4568, do not consider long positions anymore.

Buy around 4585, take profit at 4626/4649

The above suggestions are for reference only; actual trading should be based on real-time operations.

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