12.24 Initial Analysis of Gold Market
Currently, gold is consolidating around 4490, and it is expected to continue to test the 4500 level in the evening, with a likelihood of stabilizing above this position. The overall strategy remains focused on buying on dips, with the key being to grasp the timing of entry.
The current trend maintains strength, and with the midnight Christmas holiday leading to light trading, the probability of a significant pullback is low. The primary support below is referenced at the 4470 level, followed by important support in the 4445-50 area. The market is likely to continue rising after oscillating and consolidating above support. There is no obvious resistance at the daily level, and the bullish trend still dominates. It is advised to place long positions relying on the two supports, while refraining from short positions for now.
Specific operational arrangements will be provided in real-time during trading, please pay attention.
Gold
Buy on dips at 4470-4475, if it reaches 4450, you may add to long positions, with a stop loss at 4432 and a target in the 4530-4550 area.
