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✅ Weekly overview
Gold prices fluctuated wildly in a wide $100 range this week before closing in a doji, indicating that the power struggle between buyers and sellers continues.
Looking ahead to next week, the sideways pattern is expected to continue, with a downward correction path likely to begin in mid-December.
→ The basic strategy is still to sell at a high level.
Gold prices fluctuated wildly in a wide $100 range this week before closing in a doji, indicating that the power struggle between buyers and sellers continues.
Looking ahead to next week, the sideways pattern is expected to continue, with a downward correction path likely to begin in mid-December.
→ The basic strategy is still to sell at a high level.
✅ Daily chart analysis (D1)
Inside gains during Friday trading session
The price reached 4259 and then fell back to the starting point.
Close with new doji candle
➡️The upward momentum continues to be weak and fails to close positively
✅ 1 hour chart (H1) analysis
Moving averages cross back and forth
→ There is no unilateral trend and the trend remains within the horizontal range
The resistance below 4265 is still strong
Support is concentrated around 4160
📍If price goes back to 4160 and rebounds from it
→ Short term buying opportunity
📍If level 4160 is broken
→ The decline may extend to lower levels
🔴Resistance levels
4220–4230 → Short-range rejection zone
🟢 Support level
4170–4174 → Main support area
4160–4165 → The dividing line between purchasing power and selling power
✅ Suggested trading strategies
Short-term focus: Selling at the top is the main strategy, buying at the support is the secondary strategy
🔰 There is a small amount of selling trade entry near 4220–4230
🔰 Only carry out small buy trades when the price remains at 4160–4165
⚠️Risk warning
The market is in a phase of liquidation and rapid fluctuations
Price sentiment can change rapidly
✔ Carefully manage trading volume
✔ Adhere to strict stop loss
✔ Adjust based on instantaneous price changes
