12.24 Evening XAU
Intra-day XAU rose to a high of 4525 before falling back, reaching a low of 4471, then rebounding into a consolidation phase, overall presenting a bullish rhythm of "rising - retracing - stabilizing".
From the hourly Bollinger Bands perspective, it shows a pattern of three lines running parallel horizontally, consistent with the technical characteristics of consolidation and accumulation of strength — after breaking through the upper band, although there was a pullback, it stabilized after retracing to the middle band (20-day moving average), and continued to operate around the middle band, confirming that the middle band has strong support effectiveness.
The ability to break through the upper band reflects the release of bullish momentum, and the fact that the middle band was not broken during the pullback indicates that the bullish structure has not been damaged. The current sideways consolidation can be viewed as a temporary balance of bullish and bearish forces, with energy accumulation. Combined with the previous upward trend, the short-term technical outlook is clearly bullish.
(4470 entry, 4458 add, 4446 stop, looking at 4530-4350)
Personal opinion, not constituting investment advice.
