12.24 Gold Trading Strategy: Bullish Trend Continues, Focus on Buying on Dips
The current bullish pattern in gold is clear, supported by a resonance of loose policies, geopolitical risks, and capital inflows, maintaining a strong upward trend overall.
The daily chart shows a standard bullish arrangement, with prices running along the upper Bollinger band, the MACD showing a golden cross above the zero line and expanding red momentum bars, with bullish momentum continuing to be released; however, the RSI has risen to a high of 78, indicating short-term overbought pressure, and caution is needed for potential profit-taking leading to a technical pullback. The four-hour and hourly chart structures are solid, with moving averages strongly diverging, and after consecutive bullish hours, it is consolidating at high levels, supported by short-term moving averages, with the strong pattern unchanged.
Trading Advice: After a pullback near 4470, enter long in batches, with a stop-loss set below 4460, targeting 4500-4520-4550 first.
Note: As the Christmas holiday approaches, market liquidity may be thin, potentially amplifying volatility, so it is essential to strictly control positions and closely monitor the effectiveness of support levels to avoid the risk of chasing highs.
