#美国证券交易委员会推进数字资产监管框架创新 【Gold Market Technical Analysis 12.18】

$XAU Currently at a critical turning point

Recently, gold has been continuously rallying in the 4350-4380 range for four days. It is now facing an important decision point. Two major factors influence the trend—tonight at 21:30, the US inflation and retail sales data will be released. This data is likely to push gold prices higher, re-testing the key resistance of 4350-4380; on the other hand, the Bank of Japan will announce its interest rate decision on the morning of 12/19. The market expects a high probability of rate hikes. If confirmed, combined with exchange rate changes, precious metals will face pressure. Simply put, if gold cannot break through this hurdle tonight, a correction is highly likely tomorrow.

From a technical perspective, gold is currently holding above the key support at 4320. It previously touched 4343.05, just one step away from the resistance zone of 4350-4380. Observing the 1-hour chart, after rebounding from 4271.52, the price shows a oscillating upward pattern. The bullish trend remains intact, and the recent pullback is a normal consolidation.

Trading ideas—
Look for buying opportunities around 4332-4322, with the first target at 4340-4350. If this level is broken, continue to watch for 4355, 4365, up to 4380 in sequence.

(This analysis is for reference only)$BTC $ETH