12.8 Morning Gold Outlook:
Looking at the 4-hour candlestick chart, gold is currently fluctuating at a high level, overall slightly weak, with both bulls and bears fighting quite fiercely. The resistance level above and the support level below are very clear. In the technical indicators, the J line has dropped quickly and is already at a low level, while the K line has crossed below the D line, indicating that the short-term decline has been somewhat significant, and the downward trend may continue.
In the short term, gold is slowly declining from a high level, with bears temporarily gaining the upper hand, but the J line has reached a low point, which may trigger a slight rebound. However, if the rebound fails to break through the pressure of the moving average, the downward trend is likely to continue.
Suggestions: For aggressive friends: wait for the rebound to the range of 4209-4219, you can try to short with a small position, placing a stop loss above 4225, and initially targeting 4192-4180.
For conservative friends: don’t rush to act, either wait for the price to stabilize at 4220, or wait for it to break below 4190, and then operate in line with the trend.