December 5th Gold Market Summary: High Position Fluctuations Await Breakout, Interest Rate Cut Expectations Dominate Direction

This week, the gold market has been particularly challenging, with four consecutive trading days showing long upper and lower shadows in daily candlesticks, and the alternating yin and yang bodies appearing erratic. The hourly chart seems stable, but the daily fluctuations are repeated, causing many simulated traders to stumble, highlighting the current difficulty of the market.

Today's (Friday) core focus is whether gold can leverage potential market movements to complete a breakout. If an effective breakout is achieved during the US trading session, it is expected to attract a large amount of mainstream capital, which is also a key window for the short-term market to break out of fluctuations.

On the fundamental side, the Federal Reserve's interest rate decision next Thursday (December 11) has already sparked market speculation, with funds positioning for interest rate cut expectations. Although last week's initial unemployment claims fell to a more than three-year low, this strong data was ignored by the market. Even if gold dips, it can rebound to around 4200 USD in the latter half of the night, indicating that the market is eagerly awaiting signals for an interest rate cut. Thus, 4200 USD has formed strong support, and during the same period, the US dollar index has only slightly rebounded, not placing strong pressure on gold.

On the technical side, this week gold has continued to fluctuate at high levels, with the daily chart showing a pattern of alternating doji and long upper and lower shadows. The bullish close on Thursday also confirmed the strength of support below, with a tug-of-war between bulls and bears becoming entrenched. The current price has reached the 24-26 range of the upper track of the downward channel, and attention should be paid to whether the hourly chart can hold this position. If it can break through the resistance, the upper target can be viewed at the 4250-4260 USD range, and 4200 USD will turn into a support level for top-bottom conversion; conversely, attention should be paid to the triangular structure support at 4170-4180 USD below.

Fluctuating markets are normal; after a breakout, one can follow the trend. Wishing everyone a pleasant weekend!

Disclaimer: This article is solely personal opinion and does not constitute investment advice. Specific trading strategies are subject to real-time conditions. Investment carries risks; proceed with caution. $BTC #比特币VS代币化黄金