January 23rd Gold Market Quick Scan

After starting from the bottom, it surged all the way up, with gold reaching a peak of 4940.75, then pulling back to close at 4936.24. This upward momentum is very fierce, and bullish sentiment is overwhelming.

However, the technical indicators are starting to turn red. All three lines of the KDJ are squeezed into the overbought zone (>80), indicating that the short-term rally is overextended and could be knocked down at any time. On the MACD side, DIFF (26.89) is still pushing above DEA (22.83), and the red histogram is still expanding. The mid-term bullish trend hasn't fully faded, but caution is needed to avoid the trap of price and indicator divergence. The RSI is also in the overbought zone, which is another warning signal.

Strategy reference:
🔺 If the price continues upward and finds support around 4870-4880, go long with targets at 4930-4950-4960.
🔻 Conversely, if it stalls and pulls back around 4935-4940, short positions can be taken in the short term, with protective targets at 4900-4880-4870.