12/5 Vast Golden Morning Market Outlook

Gold has been fluctuating back and forth recently, buying on dips is the way to go.

Today, the opening price of gold is 4207. Yesterday's trend was quite interesting; it first dropped to a low of 4175 and then rose back, closing at 4208. Overall, it has been oscillating within a range.

Now on the hourly chart, the price has formed a "triangle shape" of oscillation. The lower support has risen to the range of 4163-4175, while there is some resistance near 4220 preventing a rise. This kind of movement indicates that a big move is brewing; in the short term, it will likely continue to oscillate within this small range for a few more days before a significant trend emerges.

Looking at the 4-hour chart, 4215-4220 is a key resistance level, and 4163-4175 is a very solid support. Based on the current market situation, this oscillation does not indicate a drop; rather, it is suitable to wait for a drop before buying. Do not chase after rises or rush to sell on drops; be patient and wait for key price levels to take action.

Intraday trading strategy

If it stabilizes while retracing to the 4165-4175 range, consider buying in batches, targeting 4215-4220. If it breaks through, you can continue to hold for a higher range;

If there is resistance at the 4215-4220 line during a rebound, consider shorting with a light position, targeting downward to 4180-4185. If it fails to hold, further look down to 4165-4170. $SOL #加密市场观察 $BTC