12.15 Gold Analysis

On Friday evening, gold displayed a roller-coaster trend, with prices initially surging to around 4360 with a large bullish candle, followed by a rapid decline of over 100 dollars, hitting a low of 4260. The short-term volatility was significant, and market sentiment was highly affected.

From a technical perspective, the four-hour chart has formed a bearish engulfing pattern, with the top bearish candle completely covering the previous large bullish candle, indicating strong bearish pressure.

During the early trading session, prices slightly rebounded, but the upward momentum was insufficient, and the rebound did not sustain. The short-term downward trend remains unchanged, and the resistance pattern above remains consistent.

The core resistance range focuses on 4330-4340, while the support area looks at 4270-4250. Clear signals of a short-term peak are present, with a higher probability of subsequent declines.

It is recommended to short gold around 4335-4345, targeting 4300 and 4280.