Juejin Old Cat: Golden Technical Pullback Presents Buying Opportunity

Hello everyone, I am Juejin Old Cat.

This afternoon, gold prices experienced a rapid decline, touching a low of around 4900 before stabilizing and rebounding. The current quote is around 4926. This pullback is a typical technical correction and also an opportunity for everyone to re-enter the market. There's no need to panic excessively.

From a news perspective, the market's expectations of a Fed rate cut are still ongoing. Short-term emotional fluctuations have triggered profit-taking, but the global geopolitical risks and inflation support have not changed, and the long-term upward logic of gold remains solid.

On the technical side, the 15-minute chart shows that after touching the key support level at 4900, the price quickly rebounded. This level is the lower boundary of the previous consolidation range and has strong buying support. Currently, the price has returned to the 4920-4930 range, with short-term moving averages showing signs of turning upward, indicating sufficient buying momentum below.

In terms of operation, we continue to build long positions relying on the 4900 key support, with an upper target of 4950-4970. If the price pulls back to the 4910-4920 area, consider entering in batches, with a stop loss set below 4895 to handle extreme volatility.

Disclaimer: The above content is for sharing personal trading ideas only and does not constitute any investment advice. Trading involves risks; please operate cautiously according to your risk capacity.