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5.6 Xin Xin Lunchtime Gold Market Analysis
Gold has completed a strong V-shaped reversal, rising sharply from the 4505 low point, breaking through the previous decline starting point, and directly approaching the previous high of 4669, signaling the complete end of the bearish trend.
Currently, the 4640-4645 range has shifted from resistance to strong support. As long as the pullback does not fall below this area, the bullish trend will continue, and upward space will further open. There is no absolute high in the trend; following the trend remains the best strategy.
Trading suggestions:
Buy in the 4590-4610 range for gold, add positions at 4580 on dips, with targets of 4700-4730, and a stop loss set at 4567. Focus on riding the trend with long positions, avoiding contrarian bets.