12.8 Dong Yan: Gold remains resilient at high levels, breaking through the triangle pattern

Last Friday, gold formed a downward trend after a sharp decline, effectively retracing the 4-hour range; although the movement was relatively quick, it maintained the overall 4-hour range oscillation, keeping the daily K-line in a high-level sideways resistance, with the market consistently waiting for news and external stimuli!

For today’s short-term analysis:

1: On the 4-hour chart, the BOLL range is currently running horizontally, fluctuating within the range of 4180-4230; during the day, this range can be used to adopt a low-buy high-sell strategy!

2: On the 1-hour chart, the temporary support level is around 4190, with the mid-axis pressure level around 4216; therefore, in the short term, one can handle the short-term based on the 1-hour support level of 4190-4180; above, the pressure level of 4216-4230 can be considered for short selling in the short term;

3: In the daily K-line, the stochastic indicator is running downwards with a death cross, indicating a bearish signal; in terms of patterns, there is a temporary high-level fragmented bearish and bullish movement; the support level below is around 4110;

In summary: today will still be treated as oscillation; the support range of 4180-4190 lays out short-term longs; the pressure level of 4216-4230 lays out short-term shorts! Market changes will be followed up! #加密市场观察 #美联储重启降息步伐