On January 9th, the precious metals market remains indecisive between bulls and bears, with technical analysis providing clear operational guidance.

Yesterday’s trend was in line with expectations, with gold finding support around 4407 and experiencing limited decline. In the evening, the weakening of the US dollar index gave the bulls a breather, leading to a deep-night rally in precious metals, but overall, prices continued to fluctuate within a convergence range. The one-hour chart shows a triangle convergence range locked between 4422-4483. This morning, resistance was encountered at 4483, and in the short term, further pullback pressure may be faced.

Based on this judgment, even if there was a rally last night, the risk of chasing long positions today remains relatively high. The operational strategy remains to sell high and buy low—looking for opportunities within the range.

In the short term, focus on the short position zone around 4474-78. If short positions are opened within this range, set the stop-loss at 4486, with targets at 4440 or 4422. Once the price drops near 4422/4440, consider whether to take a reverse short-term long position. Risk management should be the top priority.

Another reference point: consider shorting around 4476, with a stop-loss at 4486, and take profit at 4440/4422.

The 4422 level requires judgment based on the current situation to determine if a short-term long position is worthwhile.

The above is only a technical analysis perspective; actual operations should also consider personal risk tolerance and real-time market conditions.