12.10 Dong Yan: On the eve of the Federal Reserve's decisive battle, gold continues to look for volatile upward movement!

Gold, on Tuesday morning, showed a retracement pattern, dipping to the 4170 level before rising again. Recently, the market has experienced a lot of rollercoaster movements; the market is strong but not continuous, which is representative of a volatile market. One must not change their perspective drastically in a single day! Yesterday, during the European session, gold rebounded and rose to around 4212. Old Dong has clearly stated that chasing after rising prices is a very taboo matter. In a volatile upward trend, there will definitely be a retracement action. Just continue to go long on dips around 4190. As a result, the market confirmed this thinking as expected, with the lowest retracement touching 4189-4190 before gaining strength to push up to the resistance level of 4220.

Today, the thought remains that before the interest rate meeting, we continue to expect a volatile upward trend. This morning, pay attention to short-term opportunities to participate around the low point of 4190 from yesterday's US session.

Returning to the gold market on the hourly level, the moving averages progressively show a golden cross in a bullish arrangement, indicating that there is still momentum for gold to rise. After stabilizing around the 4190 level, gold's subsequent retracement is merely a test of the 4189 level before continuing to rise. This morning, pay attention to buy low around 4189.

Gold: 4190-4195 layout for long positions, target 4230, 4240. $ETH $SOL $ZEC #美联储重启降息步伐 #美联储FOMC会议