12.17 Gold——Long and Short Game Focus on 4260-4352 Range

Gold bulls continue to face pressure. Even with yesterday's strong non-farm payroll data, the gold price surged to around 4440 but still encountered a sharp decline, diving straight down to 4293, highlighting the strong resistance above and insufficient rebound momentum. Current market sentiment leans bearish, but there may be short-term trading opportunities near key support levels, and long and short operations need to focus on breakout directions.

The strong non-farm payroll data was bullish, but the gold price rose and fell. The core logic lies in the market's unchanged expectations for the Federal Reserve's tightening monetary policy. Although employment data released a mild signal, persistent inflation may still support the Fed in maintaining high interest rates, and the strong pattern of the dollar index remains unbroken, continuously suppressing gold's non-dollar asset properties.

Global risk appetite has marginally rebounded, with safe-haven funds flowing in slowing down. Coupled with the continuous reduction in gold ETF holdings, bulls lack funding support, making it difficult for positive news to translate into sustained upward momentum, leading to bearish pressure on rebounds.

4-Hour Level: High points continue to decline (4360→4340→4330), forming a clear descending channel, with a downward slope indicating that bears dominate the short-term trend. After breaking below the 4300 integer level yesterday, the primary support below focuses on around 4290, with further strong support located in the 4270-4260 range (the starting point of this round of increase, which has reference significance for trend reversal).

The MACD indicator operates below the zero axis, and bearish momentum has not fully released, but it is approaching the oversold area; the moving average system shows a bearish arrangement, with the 5-day and 10-day moving averages continuously suppressing rebounds. However, there is medium to long-term moving average support around 4260, which is likely to trigger technical buying.

Suggestions

Bullish Strategy: If it drops to around 4290 without breaking, it can be bought long; if it unexpectedly dips to around 4270, add to the long position, with a unified stop loss at 4250 and a target of 4330-4350.

Bearish Strategy: If it rebounds to around 4352 without breaking, it can be lightly shorted, with a stop loss at 4365 and a target of 4300-4280. $BTC $ETH $BNB #美国非农数据超预期 #BinanceABCs #巨鲸动向 #美SEC推动加密创新监管 #美SEC推动加密创新监管