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January 29th Jing Yi Gold Morning Review
Gold continues its strong breakout above 5400, reaching a high of 5417.45, with an intraday increase of 4.6% and a single-day rise of over 238, marking a rare surge in recent years. It is currently oscillating at a high level around 5417, with bullish sentiment exuberant.
News: The Federal Reserve maintains steady interest rates, but weak economic data has boosted expectations of rate cuts. Coupled with geopolitical risks and stock market volatility, safe-haven funds are flowing in, with bullish funds accounting for 91%.
From a technical perspective: The 30-minute bullish momentum remains strong, with support levels at 5370/5330 and resistance at 5420. A break above could target 5450-5500.
Gold trading strategy: Primarily buy on dips,
Enter long positions on pullbacks and stabilization around 5370-5380, with a stop loss below 5350. Targets are 5420-5450; beware of resistance at 5420 causing a pullback, and a break below 5350 or deep correction. Pay attention to US initial jobless claims data. #金价突破5200美元