Evening Gold Outlook: Focus on Buying on Dips, Trade with the Trend

This morning, we emphasized the key level of 5400, which has been successfully reached and broken through. The price briefly touched around 5419 during the day, and the overall movement fully aligned with our early prediction. Subsequently, the market experienced a slight pullback and is now consolidating in the 5380-5400 range. The bullish momentum has slowed, but the overall trend remains bullish.

There are no major data releases tonight, and the news environment is relatively calm. The overall sentiment continues the bullish atmosphere seen during the day. Geopolitical tensions and inflation expectations continue to support gold prices, with no obvious negative factors disrupting the market.

From a technical perspective, the 1-hour Bollinger Bands are opening upward, and the price is steadily trading above the middle band. Short-term support is mainly around 5360-5370, while resistance is at 5420-5430. The MACD red bars are gradually shortening, and the KDJ indicator is slightly turning downward, indicating a mild short-term correction may be needed. However, support below is strong, so it’s not advisable to blindly short or chase the market.

Today, the overall strategy remains to buy on dips, avoiding short positions as much as possible. If the price stabilizes around 5360-5370, consider gradually adding long positions targeting 5410-5420. If the market breaks above 5420 directly, follow the trend and look for more upside, with targets at 5450-5460. If the key support at 5360 is broken unexpectedly, it’s better to stay on the sidelines and wait for a more reliable low-buy opportunity before entering.

——————
Disclaimer: The above analysis is for sharing personal trading ideas only and does not constitute any investment advice. The market carries risks; trade cautiously. Any gains or losses from trading are your own responsibility.