#密码资产动态追踪 【Gold Market Daily Review】Technical Thoughts for January 14

How to view the news side? US manufacturing data looks good, which directly boosts the dollar expectations; rate cuts might be delayed. Safe-haven sentiment is also cooling down — no new developments in the Middle East, and funds are starting to withdraw. Plus, the world’s largest gold ETF is reducing its holdings, and institutions are becoming cautious, putting pressure on gold prices.

From a technical perspective, gold performed quite strongly yesterday. A large bullish candlestick was formed on the daily chart, and the price hit a new high. The two lines of the MACD indicator are still crossing upward, indicating that the bulls still have strength and are not completely exhausted. The key level to watch is the MA5 moving average; whether it can hold the critical support depends on it.

On the four-hour chart, the gold price has been rallying from the support level around 4310, reaching a high near 4630. However, there are signs of a correction now, as the MACD is starting to turn downward. Whether the MA10 moving average can support the price at this point is very crucial.

Where to position?
- If gold is in the 4570-4580 range, consider holding long positions, with targets at 4600, 4610, 4620, and then 4635.
- If entering short positions near 4635-4640, set targets at 4600 or a retest of 4580.

Key support is at 4530-4525, and resistance above is around 4620-4625. The market may fluctuate, so managing stop-loss is the most important.