12.15

Gold

The performance of gold on Friday night, does it make you excited yet anxious? The gold price first dramatically surged, with a large bullish candle soaring to around 4360, followed by a sharp drop of 100 dollars, reaching a low of 4260. This rollercoaster market is bound to keep countless traders awake all night.

Currently, a clear bearish engulfing pattern has emerged on the four-hour chart, with the top bearish candle directly covering the previous large bullish candle, which is a strong breakout signal. Although there was a slight rebound in the early session, the momentum is weak, and the upward trend quickly dissipates, with the downward trend still dominating the market, and the resistance above remains strong.

Key resistance is focused on the 4330-4340 range, while support is concentrated around the 4270-4250 area. Given the clear peak signal in the short term, the probability of a price drop in gold is higher, and any rebound should be viewed as an opportunity for short positions.

Strategy: Short gold at 4330, stop loss at 4345, target at 4250

Disclaimer: Investing involves risks, and caution is required when entering the market #现货黄金 #美联储降息