【Gold/XAUUSD】Trading View on January 9

Gold has already retraced from the high to 4410 yesterday and then showed a clear rebound trend. It is currently obvious that there is resistance above and support below, so the market is expected to continue with a large range-bound consolidation during the day.

If the price reaches the 4446-4435 range, consider entering a short-term long position with a small stop-loss, aiming for the 4490-4500 range.

If the 4435 level breaks down, look to re-enter long positions in the 4410-4397 range.

For short positions, consider opening a short near 4497 and target 4460 as a downside objective.

The current risk to watch is that if 4397 breaks, the trading mindset should shift to trend-following short positions.