On December 12 (Thursday), it was emphasized that gold maintains its bullish trend, especially after the Federal Reserve's interest rate decision. Gold is poised for a significant upward breakout at any moment—let the momentum build further. Don’t assume that the absence of an immediate surge means no upward movement is coming. For trading, focus on buying the dips, with long positions viable above 4,200. Yesterday, gold twice held above the 4,200 level and rose, perfectly aligning with expectations.
In the evening session, gold retreated to 4,204 before rising again. After forming a double-bottom pattern on the 1-hour chart, it surged past the 4,247 resistance, accelerating further to reach the 4,285 zone. Breaking this key resistance level has opened further upside potential. Today, gold remains unquestionably bullish—even if a long position fails temporarily, support levels should still be used to re-enter.
Gold’s bullish momentum continues to climb, peaking at 4,285 before retracing. Today’s focus is on the extent of the pullback, which presents another opportunity to enter long positions. Primary support lies at 4,260, followed by 4,247. If the Asian and European sessions hold above 4,247, maintain a bullish stance with targets at 4,285 and a breakout above 4,300.
Trading suggestion: Buy gold at 4,263, stop loss at 4,250, target 4,300–4,320.
Disclaimer: The content is for informational purposes only and does not constitute investment advice. Investors should assess risks independently.
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