Wednesday, December 17, gold rebounds from the bottom and continues to look bullish

Yesterday, gold initially declined and then rose, with the price rebounding after falling to $4271 per ounce. Influenced by non-farm employment data, the price rose to around $4334 before facing pressure and retreating, currently at the $4314 level. Yesterday, I suggested going long on gold at $4280 with a target of $4350, which resulted in a $54 increase. Currently, the pullback is relatively small, and the oscillation continues to trend upwards.

From the current 4-hour trend, gold has made a second move down after a rebound, then a large bullish candle recovers all previous losses. After a slight pullback, it once again closed bullish. The downward movement has been challenging to sustain, and the overall structure still leans towards a bullish pattern. Therefore, in an upward trend, the pullback that cannot sustain should only be viewed as a correction, so in strong phases, pullbacks are considered long opportunities.

Gold Asian session trading strategy: go long at 4300-4290, with a stop-loss at 4270. Target to focus on the 4350-4380 range.

Note: The above ideas are personal opinions, and all are welcome to discuss! Investment carries risks; please proceed with caution! #黄金