Looking at the gold chart, after rebounding from the low of 4271.52, $XAU has repeatedly tested the top near 4348.85, forming a repeated oscillating upward trend. The current price is hovering in a high range, but it has not yet effectively broken through the previous high. In the short term, the price fluctuates between gains and losses, and the momentum appears somewhat inconsistent.
From a technical perspective, there is substantial buying support around 4270 below, while 4350 faces clear resistance above. The current market is basically consolidating within the 4350-4320 range.
Intraday trading idea: primarily short on rallies.
$XAU trading suggestions: • Enter short positions around 4350 • First target at 4315 • Further decline towards the 4270 area
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ProveMyZK
· 12-20 06:32
With such obvious 4350 resistance, shorting on rallies is indeed a good strategy, but the current volatility feels a bit annoying.
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RunWhenCut
· 12-18 04:57
Once again, the 4350 hurdle. Can it be broken this time? Feels like we're stuck here every time.
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BlockchainGriller
· 12-18 04:10
It's the same trick again, short at 4350? Last time I followed this and got smashed down to 4360, so it's safer to stay on the sidelines for now.
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LayoffMiner
· 12-18 04:08
4350 is really a tough level, and we've been repeatedly testing it in the short term. It still feels like a bearish approach is more reliable...
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IfIWereOnChain
· 12-18 04:05
Going short again at the high? I'm too familiar with this trick. Every time I say to short, I get slapped in the face. Can this 4350 level really hold?
Good morning, traders~
Looking at the gold chart, after rebounding from the low of 4271.52, $XAU has repeatedly tested the top near 4348.85, forming a repeated oscillating upward trend. The current price is hovering in a high range, but it has not yet effectively broken through the previous high. In the short term, the price fluctuates between gains and losses, and the momentum appears somewhat inconsistent.
From a technical perspective, there is substantial buying support around 4270 below, while 4350 faces clear resistance above. The current market is basically consolidating within the 4350-4320 range.
Intraday trading idea: primarily short on rallies.
$XAU trading suggestions:
• Enter short positions around 4350
• First target at 4315
• Further decline towards the 4270 area