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Song Xiqing: New high not achieved, deep correction has arrived — How long can gold's 'fake fall' continue?
Gold's upward momentum is insufficient, encountering resistance again near 4170 and falling back. The short-term resistance zone focuses on 4170-4180, with solid support below at 4120-4130.
The current pullback is still ongoing. New lows frequently appear, increasing the adjustment magnitude, but it is a reasonable correction and has not changed the overall bullish trend.
In terms of trading strategy, it is recommended to wait for the price to retrace to the 4120-4130 area to go long; if it rebounds to around 4180-4190, then consider a light short position.
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