12.18 Gold Morning Review: Wide-range Fluctuation Does Not Change the Bottoming and Rebound Trend, Focus on Buying on Dips and Not Chasing Highs

On Wednesday, gold continued its wide-range fluctuation trend, but the bottoming and rebound rhythm remained unchanged. Currently, 4350 remains a key short-term resistance level. Once a volume breakout occurs, the next target could be around the previous high near 4380; however, this level previously formed a double top that triggered a pullback. If it is touched again, caution is advised regarding the "three-top" resistance. Overall, all moving average indicators remain in a bullish alignment, with the support zone between 4266-4275 clearly effective. Operationally, it is recommended to stick to buying on dips and avoid chasing highs near key resistance levels.

On the daily chart, gold continues to oscillate and recover in a high-range zone, with prices moving within the 4350-4270 range. Notably, after continuous oscillation, the short-term moving averages continue to diverge upward, and the retracement strength on the daily chart gradually diminishes, indicating a short-term high-level oscillation with a relatively strong pattern.

In the 4-hour trend, prices face significant resistance around 4353; after continuous fluctuation, the hourly chart's technical pattern weakens, with short-term moving averages turning downward and diverging, and candlesticks remaining below the moving averages. There is a high probability of a correction or retracement in the short term, so close attention should be paid to the extent of the correction.

Operational suggestion: Enter long positions in the 4300-4305 range, with a stop loss at 4295, targeting 4340-4360.