Enze: The Dodo trend is intact, with a pullback to position for a low Dodo

Currently, the gold bullish structure is complete, maintaining a standard upward channel on the 30-minute timeframe. Prices continue to make higher highs and higher lows, with a clear and stable Dodo trend.

In the short-term market view, the 5390-5400 zone forms a significant strong resistance. Gold prices face pressure on the upside, and it is expected that after tomorrow’s market opens, there will likely be a consolidation pullback before a new round of upward movement begins. The key support below is focused on the 5300-5250 range.

As long as the critical support at 5250 in the channel is maintained, the overall upward structure remains intact. The subsequent upward target can be seen at 5590, with further gains possible beyond 5680.

Trading Suggestions

Conservative traders can consider a phased dip to buy low in the 5280-5310 range, with a stop loss around 5240. The initial target is 5400, with a breakout aiming for 5590 and above 5680.

Reminder:

The above analysis is Enze’s personal view. Markets are ever-changing, so please rely on Enze’s actual market actions!