12.18 Evening XAU
The intraday XAU is overall oscillating within the range of 4320-4343.
From the hourly Bollinger Bands perspective, the channel shows a narrowing pattern, reflecting a contraction in short-term market volatility. Although the middle band and lower band are slightly tilted downward, the price rebounded after touching the lower band, validating the effectiveness of the lower band support, and the rebound signal from the lower band indicates short-term oversold conditions and exhaustion of bearish momentum.
Currently, the lower band support is solid, and the price has not effectively broken below the oscillation range. Considering the recent intact bullish structure of gold, the probability of a subsequent upward breakout is higher.
(Enter at 4314, add at 4301, protect at 4289, aim for 4341-4360)
Personal opinion, not a basis for investment operation
