Brother Liang's Daily Gold Gains — Morning Review on 12.16

Yesterday, gold surged then fell back, ultimately closing with a hanging man pattern, with strong resistance around 4350. The daily chart shows consecutive long upper shadows, indicating gradually weakening upward momentum. The short-term moving averages on the 4-hour chart are turning downward, with the K-line under sustained pressure, showing a generally oscillating and weak pattern. Short-term downward space is still expected. The hourly chart remains in low-range consolidation, with a lack of rebound strength, so watch for a small correction followed by a possible second decline.

Tonight, the US November Non-Farm Employment data will be released, which could serve as a key turning point. If employment numbers and the unemployment rate significantly deviate from expectations, gold is likely to break out of the current 4300-4350 consolidation zone, with increased volatility. Caution is advised in trading; avoid rushing into positions. It is recommended to wait until the trend clarifies before making strategic entries.

Morning trading reference: Consider lightly shorting around 4316-4320, with a short-term target of 4300, and a medium-term target of 4280.