12.16 Midday Analysis

From the hourly perspective

The price has continued to fall from the previous high of 4353, forming a step-like downward trend, and the latest K-line closed at a low position, showing no obvious signs of a stop-loss.

MACD Indicator: DIFF (-5.83), DEA (-1.51) are both negative, and the MACD bars are green and expanding (-8.63), indicating that short-term bearish momentum is still being released, with no signs of a golden cross or bottom divergence rebound.

The U.S. October retail sales month-on-month rate has not yet been announced (expected 0.1%). If this data exceeds expectations, it may strengthen the Fed's interest rate hike expectations, further suppressing gold; if it falls short of expectations, it may provide a brief rebound opportunity for gold.

Summary: The short-term technical outlook for spot gold is bearish, with prices in a downward trend during the day. Attention should be paid to the intraday low support at 4280; if it breaks, it may further decline; if it stabilizes, there is a possibility of a slight rebound correction, while also paying attention to the impact of the U.S. retail sales data announcement.

Personal Recommendations

Long: 4275-4290, target looking at 4310-4320, if broken, then look down at 4350

Short: around 4300, target looking at 4280-4290, if broken, then look down at 4275#BinanceABCs #巨鲸动向