12.24 Gold afternoon trading fluctuates and consolidates, the long-short game continues

From the hourly chart, after the price rose and broke below the middle track at 4492.36, it found support near the lower track and rebounded somewhat. The Bollinger Bands show signs of contraction, indicating obvious short-term fluctuation characteristics. The upper level at the 4500 integer mark and the middle track position form short-term pressure, while the lower range of 4470-4480 constitutes a support zone, and the long-short game in the afternoon revolves around this range.

Currently, the market trading sentiment is relatively cautious, and after experiencing a morning surge, gold prices lack sustained upward momentum. In the short term, it is highly likely that the range-bound fluctuation will continue, and attention should be paid to the breakthrough of key support and resistance levels, as well as subsequent market news guidance.

The first support level we estimate for a pullback is at 4470, which is also a structural support. The lower level at 4445-4450 is also an important support level. In the afternoon, we continue to maintain fluctuations, and the daily suppression level remains unseen. The bulls are already in a soaring market. In the daytime, focus on two small support opportunities for long positions: one near 4470 and the other at the 4445-4450 level, while short positions are not being considered. I will provide specific operational strategies during the trading session, so please pay attention in a timely manner.

Gold trading strategy:

Go long at the 4470-4475 level, add to positions on a pullback at the 4445-50 level, with a stop loss at the 4437 level, and a target at the 4520-4525 level.