Gold Investor 12.22 Morning Review: Precisely Captured 62 Points! Gold Hits Resistance on the Upside, Short-term Bearish Opportunities Have Arrived
Volatility is the norm of the market, just like the changing seasons and the ebb and flow of tides. Accepting its imperfections allows us to gather strength in the valleys and remain clear-headed at the peaks.
Last Friday, a precise layout for gold long positions at the 4310 level saw gold prices rise strongly, peaking at 4372, easily locking in a substantial profit of 62 points! However, the market's wind direction has changed, and the short-term shorting window has officially opened.
Unexpected recovery in U.S. economic data has injected rebound momentum into the dollar index, while technical corrections at low levels have increased the attractiveness of dollar assets, diverting funds from the gold market. With the Christmas holiday approaching, institutional trading enthusiasm has cooled, and market trading activity has decreased. Long positions are eager to secure profits, and the momentum for chasing higher prices continues to shrink, creating an excellent market environment for bearish trends.
From a technical perspective, the 1-hour chart shows clear bearish signals: after a rapid rise, gold prices quickly fell back, displaying significant characteristics of a peak. The upper Bollinger Band at 4361 was briefly broken but quickly lost support, with bullish momentum exhausted at high levels. The previous 4374 peak formed strong resistance, which has not been effectively broken despite multiple tests, and a "double top" suppression pattern is gradually taking shape. The 1-hour candlestick has formed a long upper shadow, clearly indicating heavy selling pressure above. Currently, gold prices have retreated to within the Bollinger Band, with upper band resistance becoming evident, and the middle band at 4336 is a key support level; a break below this will further open up downward space.
Short-term Trading Recommendations for Gold
- Entry Range: Initially short at the 4370-4375 level, add short positions in the 4380-4385 range
- Target Range: First target at 4335-4340, looking down to 4320-4325 after breaking support
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