On the previous trading day, although the gold market failed to maintain its gains after surging, the price remained at a high level and sideways. From the overall trend, this performance not only does not change the upward rhythm, but also means that the current short-term high volatility is the key stage for upward energy storage.

We still maintain a bullish outlook on the intraday market trend. In terms of operational strategy, pay close attention to the key support level of 2930. As long as the gold price remains stable above 2930, we can rely on this support to continue bullish and actively seize long opportunities.

During the morning session, market fluctuations may be relatively small, so it is recommended to take a wait-and-see approach for now. Entering the market rashly before the market is clear and a suitable entry time appears may increase risks. Patiently wait for the best opportunity and act decisively after market signals are clear, in order to gain returns in the gold market with a more stable posture.

In a trend turning market, the cross line that can play a turning role usually appears after a bullish or long bullish trend, and is located at a high level and significantly higher than the previous high point. It is a signal of excessive volume increase and exhaustion leading to decline. But the current situation is not like that. Multiple cross lines will not easily complete a trend reversal, and the current cross lines are more of a correction than a trend reversal.

There are two main forms of correction: one is price correction, which means stepping back a certain amount and then rising again, as if squatting down to store energy before jumping higher; The second is time correction, exchanging time for space and continuously oscillating sideways to accumulate energy. In extremely strong forms, it is difficult for prices to rebound, and the current market is similar to this situation, with a clear characteristic of not falling.

Recently, bearish voices have gradually emerged in the market, with the main viewpoint being that gold will not rise, so it will fall. However, we can see that although the current price is not rising, it is also not falling, especially at the hourly level. After each pullback, there is a rapid bottoming out and long downtrend, indicating strong support below, which is a process of weakening bearish resistance and releasing bearish pressure. Encountering bearish obstacles during the upward trend, as the price continues to rise, resistance increases. It is necessary to reduce the burden through selling pressure in order to enter the market lightly in the future. So the current crosshairs and fluctuating highs should be seen as corrections, which will not change the upward trend and bull market rhythm, but rather aim to better rise.

In terms of short-term operations within the day, we still maintain a low long strategy. On the previous trading day, our focus level was 2920. In the morning of this trading day, we raised the support level to 2930/2940 and continued to be bullish around these two points. Our defense is set below 2920, and we continue to expect gold to reach new highs. Although the goal of $3000 may be delayed, it will inevitably come.