#比特币与黄金战争 Gold Evening Review｜Repeated Testing and Oscillation Battles, Keep an Eye on 4480 Support in the Evening

Today’s gold movement is quite interesting. During the Asian session, it dropped directly to 4448.40 and couldn’t stop falling, then quickly rebounded. In the European session, it attempted to break through the key resistance at 4531.27 but ran into resistance and lost momentum. Afterwards, the gold price oscillated around the 4507.47 level, and the overall rhythm remains trapped within a range.

On a macro level, the US dollar index is stuck around 97.80, which is near a two-month low. The US November CPI came out at 2.7%, showing some cooling, and market expectations for the Fed to cut interest rates next year have increased accordingly. Both forces are supporting gold, providing decent backing. The problem is that as the year-end approaches, market liquidity is noticeably insufficient. Both bulls and bears are hesitant to take big moves, and no one wants to make a reckless move. This is the real reason why gold prices keep hitting resistance levels.

From a technical perspective, MA7 and MA20 are pressing down from above, while MA90 is supporting from below. The key tonight is whether 4531.27 can be broken with volume, and at the same time, keep a close watch on the psychological level of 4500.

Trading strategy: If the price retraces to the 4480-4495 zone and stabilizes, consider buying on dips with targets at 4525, 4550, and 4580. Conversely, if it falls below 4475, go short with targets at 4450 and 4430. During consolidation periods, stick to high sell and low buy. The most annoying thing about year-end trading is fake breakouts flying everywhere, so strict position management is essential. Also, stay alert for any abnormal fluctuations in the dollar index.

(Disclaimer: The above is for personal market observation and analysis sharing only and does not constitute any trading advice. Investment involves risks, and profits and losses are personal responsibility.)