12.8 Monday Gold Midday Analysis

The gold market has experienced a roller coaster with a surge followed by a drop. After reaching a high of 4213.25, the price quickly turned downward, falling to a low of 4197.68 by the end of the session, ultimately forming a long upper shadow bearish candle. Based on the moving average trends, the 5-day, 10-day, and 20-day moving averages have shown signs of turning downward, indicating a clear signal of short-term bullish momentum exhaustion.

From the chart pattern analysis, this resistance encountered during the surge is not coincidental. The price failed to maintain stability after rebounding to a key resistance area, and the long upper shadow visually reflects heavy selling pressure above. The profit-taking actions of bulls after the surge are evident, and there is a risk of forming a short-term double top technically, implying that this rebound has likely reached its peak, with a high probability of entering a correction or even a downward trend in the future.

Operational Suggestions:

1. The core idea is to focus on short positions. The primary resistance above is the intraday high of 4213.25. If the market is weak, the price may struggle to break this level. One can enter short positions on the right side below this level based on 5-minute signals. If it breaks through, wait to set short positions in the 4228-4245 range.

2. The support below is first at the intraday low of 4197.68, and further down to the 4185-4170 range. If 4170 is effectively breached, the four-hour level will shift from consolidation to a bearish trend, and subsequent trades can follow the trend, targeting lower at 4130-4050. #黄金