12.11 Gold bottoming out, rebounding, retracement, continue to buy long
Today's focus is on the release of CPI data in the evening, as the geopolitical situation remains dominant in the gold trend. From the perspective of the market, the gold price continued to rise yesterday and surged again. The daily chart finally closed with a strong bullish column. Although the physical price did not fall under the pressure of the upper Bollinger Bands, the strong pattern and the boost from news continued the rebound this morning. Especially with the current price stabilizing above 2690, the cyclical indicators follow the upward trend, and the Bollinger Bands continue to rise. Coupled with the short-term positive trend formed by the geopolitical situation, the daily chart maintains a bullish outlook. In terms of 4-hour performance, yesterday's rebound continued to close positive, and today's Asian market bottomed out and rebounded, taking advantage of the momentum to continue to strengthen. The development of cyclical indicators tends to be bullish, and the short-term moving average also maintains an upward trend. However, before effectively stabilizing at the 2700 level, the 4-hour bullish trend does not chase after the rise.
Operation idea: It is recommended to mainly step back on low ground and assist with high ground. For the support below, pay attention to the area around 2688 first, and continue to look at the area between 2715-2720 above to prevent the negative impact of CPI data in the evening. Secondly, focus on the area around 2675 and participate in multiple orders. For the short-term suppression in the 2719 area, you can try short selling, and focus on the resistance in the 2732 area for the day.
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