12.10 Gold Early Market Strategy: The Main Theme is to Buy on Dips
Gold opened today maintaining a fluctuating pattern. It rebounded from a bottom yesterday, showing a clear recovery trend. After dipping to around 4170, it surged to a high of 4221, indicating initial bullish momentum. The short-term resistance is seen in the range of 4225-4230. If the bulls continue to be strong and break through that position, it is likely to stabilize. The core resistance above is locked in the 4245-4250 area. Currently, all technical indicators show signs of rising. The core strategy is firmly based on buying on dips. Relying on the short-term support around 4190, enter long positions. If the market gives a range of 4165-4175, you can decisively add to your position. However, based on the current strong market performance, there may not be many opportunities to add positions.
From the 4-hour trend, the key resistance zone is 4245-4260, with 4225-4230 as the short-term suppression level; below, 4165-4175 is an important support range. The essence of technical fluctuations is energy accumulation and adjustment. A pullback is a good opportunity to buy, so patiently wait for key levels before taking action.
Long on dips at 4190-4195, add positions in the range of 4165-4175, stop loss at 4165, target first at 4225-430, and continue to hold after breaking through.
