Yesterday Thursday (December 12th), gold rose around 2726 in the morning session and then fell sharply to 2700 after being blocked. It then fluctuated and rebounded to around 2720 before being blocked and falling. The European market continued to decline, followed by an accelerated decline after the US market, with the lowest falling to 2675. The daily chart directly swallowed up yesterday's gains and closed with a big bearish candlestick.

The unexpected increase in the number of first-time jobless claims in the United States last week has raised concerns about the resilience of the labor market. The mixed data prompted investors to take profits after four consecutive days of rising gold prices.

After four consecutive days of positive closing, gold fell sharply on Thursday, with a bearish candlestick directly engulfing Wednesday's bullish candlestick. Its low point happened to be at the level of the 5-day moving average, and it was in a low-level oscillation at the end of the trading day. The opening price today was below the 5-day moving average, indicating signs of weakness in the short term.

Given that the short-term period is in a state of adjustment, while the major level is in an upward structure, it is necessary to first pay attention to the downward trend of gold today, to see if it can stop falling and continue to rise.

Firstly, pay attention to the support around 2655-57, which is the position where the short-term top and bottom conversion occurred. Firstly, pay attention to the resistance in the 2700-2704 area. This is the low point position where the Asian market fell yesterday, and it is necessary to pay attention to the resistance situation of the top bottom transition. Secondly, yesterday's high point reached 2725, and if gold breaks through that level, it will continue to rise.

In terms of intraday operations, short positions are still the main focus, and short positions can be made when the pressure level is reached.

Detailed operational strategy for today

Gold:

Rebound 2704 short, defend 2712, target 2690-2680

Step back 2657 to buy more, defend 2650, target 2670-2690