12.5 Dong Yan: Gold Consolidation and Oscillation, Intensifying Tug-of-War

On Thursday, the number of initial jobless claims in the U.S. was far below expectations, reaching the lowest level in over three years. Spot gold maintained a fluctuating trend during the day, ultimately closing up 0.15%. Today, everyone can pay attention to the PCE data in the evening.

  Gold has still been fluctuating in recent days, dropping in the Asian session, rising in the European session, and retreating after a surge in the U.S. session, with a small bullish line closing on the daily chart. After breaking below 4195 during the session, I chased a short position and exited at 4176, then continuously executed high sell and low buy in the 4180-4200 range, all taking profits. This week has seen three consecutive trading days of fluctuating washout trends, with back-and-forth movements and poor continuation. In my opinion, after the washout ends, a decline will follow. Today, the area around 4215-4220 is important resistance, and we should look for shorting opportunities near this resistance during any rebounds.

Gold: 4215-4220 short, stop loss at 4225, target looking at 4190, 4180. #比特币VS代币化黄金 #美联储重启降息步伐