Gold hits new high, but has not yet reached its peak
In the unilateral rise of the 4-hour chart of gold with the middle track of the Bollinger Band as the critical point of the bulls, this forced short-selling slow rise will continue before the high-rise falls back and loses the middle track. The correction indicator sets a new high. The short-term Asian and European sessions are still dominated by low-long intraday, and the US session combines the pattern to reverse after the high. The rise is a setback. The key to high-altitude low-long is the entry point. At present, the rising trend line and the support of the middle track overlap at 2670-2675. It is also the low point of the retracement last night. This position is today's defense point. The Asian session retreats to 2683-2680 and first defends 2672. The target is 2700-2705. After the high, combine the hourly chart pattern to close the bag in time.
From a technical perspective, the overall technical advantage of gold bulls in December is strong in the near future. The next upward price target for bulls is to make its closing price above the important resistance level of $2,750. The next near-term downside price objective for the bears is pushing futures prices below important technical support at the October low of $2,648.90. First resistance is seen at today's all-time high of $2,712.70 and then at $2,725.00. First support is seen at today's low of $2,688.20 and then at Wednesday's low of $2,674.90.
From a technical perspective, the overall technical advantage of gold bulls in December is strong in the near future. The next upward price target for bulls is to make its closing price above the important resistance level of $2,750. The next near-term downside price objective for the bears is pushing futures prices below important technical support at the October low of $2,648.90. First resistance is seen at today's all-time high of $2,712.70 and then at $2,725.00. First support is seen at today's low of $2,688.20 and then at Wednesday's low of $2,674.90.
Note
Gold is fluctuating at a high level. It is recommended that you do not try to enter the market easily at present.
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