Juejin Old Cat: Gold Breaks Out as Expected, Bulls Target 5000 Continuously

Hello everyone, I am Juejin Old Cat. This afternoon, we mentioned that the gold correction was ending and a new upward trend was about to begin. The market in the evening proved to be in line with expectations: gold opened at 4828.63, dipped to 4772.48 in the early session before stabilizing and rebounding, and in the evening, it directly broke through the key resistance level of 4850, reaching a high of 4873.79. The current quote is 4869.61, up 0.84% intraday, with bullish momentum continuing to be released.

On the news front, market expectations for a Fed rate cut in March are still rising. Coupled with geopolitical safe-haven buying support, funds continue to flow into gold, pushing prices through previous consolidation ranges, further validating our bullish logic.

From a technical perspective, the 15-minute K-line has stabilized above the 4850 key resistance level. The price relies on short-term moving averages to continue upward, with MACD forming a golden cross and diverging, while volume is also expanding. On the daily chart, the price remains above the moving average system, with Bollinger Bands opening upward, indicating a clear upward trend. The evening breakout has opened a new upward space.

Operationally, it is recommended to continue with a low-buying strategy, relying on the support zone of 4855-4860 to set long positions, with a stop loss below 4850. The initial target is 4880-4900. After breaking through, continue to look for a move toward the 5000 integer mark. If the price rises briefly to encounter resistance at 4890-4900, you can try a light short position with a stop loss above 4905, targeting 4870-4865. Quick in and out is advised.

Disclaimer: This analysis is for personal trading ideas only and does not constitute any investment advice. The market carries risks; trade cautiously.