January 14 Gold Market Morning Review

Last night, as soon as the CPI data was released, gold surged to a high of 4634, but the rally soon lost momentum. In the second half of the US session, it began to correct, eventually returning to around 4570. This is a typical pattern of profit-taking after good news triggers a sell-off.

However, this correction did not trigger panic; instead, it resembled a high-level shakeout by the main players amid positive data, and the market quickly stabilized, starting to consolidate within a range.

From the 4-hour candlestick chart, gold is currently in a state of high-level adjustment and recovery. The extent and duration of the pullback are clearly constrained, with the 4570 to 4560 range providing solid support. From a broader trend perspective, as long as the short-term correction ends, the overall direction is likely to continue upward, with the key being how the pace and strength of the adjustment change.

From a trading perspective, as long as this key support at 4570 is not effectively broken, the bullish strategy remains unchanged. Focus on resistance between 4630 and 4650. The overall market remains bullish, and the cryptocurrency market has also been consolidating recently, awaiting the next catalyst.