12.17 Evening Outlook
Gold shows a bullish oscillation pattern after a bottom rebound on the 1-hour level, with bulls relying on short-term moving averages for support. The key resistance level has not been effectively broken, and the short-term long-short game is still unfolding in a key range, reflecting that the short-term is in a stage of oscillation digestion after the rebound, with the trend direction not yet fully clear. The price consistently runs above the 20-period moving average, indicating that the technical support for the rebound is still present, and bears have not yet taken the lead.
In addition, Gold T+D has shown a slight divergence from international gold (international gold up 0.36%, Gold T+D down 0.08%), reflecting a certain caution in market sentiment, and the strength of the bulls' counterattack has not been fully recognized!
Trading Suggestions
Bull: If it stabilizes above the 4320 level and breaks through the 10-period moving average at 4322.22, pay attention to the buying opportunity in the pullback range of 4317-4320, with an upper target looking at the intra-day high of 4342.40. If broken, further look towards the previous high of 4350.27, with a stop loss set below 4310.
Bear: If it fails to break through the 4322.22 resistance and drops below the 20-period moving average at 4315.87, try a short position with a light position, with a lower target looking at the intra-day low of 4301.61. If it breaks down, further look towards the previous oscillation low of 4289.80, with a stop loss set above 4330.
