Song Xiqing: Gold Targets 4200! Breakthrough or Pullback? Key Support Is Locked In

Gold has effectively broken above the 4150 level. Trading is still taking place above 4180, and there’s no sign of weakening in short-term upward momentum.

Technically, after the price holds steady above 4150, the next key resistance is at the 4200 integer level. In the short term, attention should be focused on the contest around this area.

In terms of trading approach, it’s not advisable to rush to place orders for red envelopes during the rebound phase. A more prudent way is to wait for a pullback and correction, then reassess the opportunity to enter a red-envelopes setup.

The short-term support zone below is around 4120–4130. If the gold price retraces to this area and stabilizes, it can be regarded as a potential observation window.

At the same time, if the price later and effectively breaks above 4200, upside room may open further. However, the validity of the breakout still needs to be confirmed by volume and follow-through.

Tip
The analysis above is Song Xiqing’s personal analysis and is for reference only. It does not constitute any investment advice!
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