Gold Market Trend Analysis On December 18, as the market fully digested the impact of the non-farm payroll data release, gold prices showed steady consolidation after a strong rally. The weakening US dollar and expectations of a Fed rate cut remain the core drivers, while technical indicators support further short-term upside.
Currently, gold continues to trade above the middle Bollinger Band, with both daily and 4-hour charts maintaining a bullish trend. The immediate resistance level is near 4,350, and a breakout above this level could signal new highs. On the downside, short-term support lies between 4,315 and 4,300. A break below this range may extend technical adjustments.
Overall, gold retains short-term bullish momentum, but technical analysis suggests a possible high-level consolidation phase as the market digests recent gains. Trading strategy favors buying on dips for now.
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