12.12 Gold Midday

From the minute-level K-line chart of gold, the price first dipped to a low of 4276.74 before stabilizing and rebounding, forming a clear V-shaped reversal trend. Subsequently, it relied on short-term moving averages to rise in a stepped manner, ultimately reaching a high of 4282.61. Although there was a slight pullback, it consistently held above the moving average support, demonstrating significant bullish trend characteristics.

From the analysis of the relationship between volume and price with moving averages, during the decline, the bearish candlestick bodies gradually narrowed, indicating a depletion of selling pressure. In the rebound phase, bullish candlestick volumes surged, and the short-term moving averages quickly turned upward to form a golden cross and moved upward simultaneously, becoming important support for price increases. This indicates that short-term bullish momentum continues to be released, and buying power in the market dominates. Meanwhile, after the price broke through the upper boundary of the previous consolidation range, the 4280 level transformed from a resistance level to a support level, further solidifying the bullish pattern.

Trading Suggestion

Near 4275-4260, target upwards at 4290, 4300#黄金