12.10 Gold (XAU) Early Morning Insights

Gold (XAU) overall shows a pullback confirmation pattern after breaking through resistance.

The 1-hour level has completed a trend resistance breakout, while the 30-minute level is in a range consolidation state, showing a pattern of being bullish in the long term and building strength in the short term.

The medium to long-term moving averages show an upward slope, with prices oscillating higher while relying on the moving averages. Currently, a pullback near the moving averages has found support, indicating a solid technical foundation for the bullish trend.

When the price broke through the trend line, trading volume increased accordingly. During the pullback phase, trading volume decreased, showing strong willingness from funds to support the price, effectively validating the breakout's effectiveness.

Trading suggestion: Go long at 4200-4205 range, target 4220, 4240.