12.17 Gold Morning Review

Yesterday, the gold market showed a strong "bottoming out and rebounding" pattern. Gold prices dipped to around 4271 and then quickly rebounded. Despite the negative impact of non-farm payroll data, the price did not break through the key support level, ultimately completing a V-shaped reversal, demonstrating strong buying pressure below.

From a technical perspective, all indicators continue to rise, and the bullish trend structure remains intact. Therefore, today's trading strategy continues from yesterday's approach, with the core logic still focused on "buying after bottoming out and adjusting." Pay close attention to low-entry opportunities during pullbacks, and there is no need to change the main trend judgment due to short-term fluctuations.

Considering the current technical situation, all moving averages indicate a bullish outlook. The important support at 4266-75 successfully prevents the price from falling further. We remain bullish at high levels but do not chase the rally. Focus on the recent high around 4350 to assess resistance. Maintain the momentum of buying on pullbacks and do not waver. Keep an eye on opportunities at 4300 and 4290. Resistance at previous highs is a key barrier; if broken, do not chase the rally, as there are larger resistances above. The major resistance above is at historical levels.

The daily chart shows a doji star, indicating a short-term balance between bulls and bears. Therefore, Wednesday's movement is very critical: Monday saw a rally followed by a pullback, Tuesday experienced a bottoming and rebound. The high and low points of 4350 and 4270 this week are particularly important—breaking through them will determine the medium-term direction.

Today's outlook:
Focus on 4290 support and 4335 resistance. Regardless of which side is broken, a continuation of the trend is possible.

Pullback: After retesting 4315, add long positions targeting 4340, with a stop loss at 4305.

If it falls below 4300, the trend may shift from bullish to bearish, and short positions can be considered. #BTC