#美国就业数据表现强劲超出预期 December 19 Gold Night Session Review: Consolidation Without Breakthrough, Bulls Brewing

The turning point of gold's trend is impossible to ignore with the Japanese central bank's rate hike news. Think back to when the yen was the cheapest borrowing tool globally; carry trade was once a major force supporting gold prices. Now that interest rates have risen, borrowing becomes more expensive, and speculative funds relying on interest rate spreads are closing positions to cut losses. Coupled with profit-taking by those long at high levels, this double pressure caused a sharp decline, pressing gold prices down for a while.

Intraday, the market remains volatile, with plenty of profit space left for long positions around 4310; crude oil has been relatively stable, but as the European and American markets open, we need to watch the upcoming trend closely.

From a technical perspective, the daily chart shows gold prices repeatedly consolidating above the short-term moving averages, with the price center gradually rising, indicating a still-strong overall situation without any shake-up. The 4-hour chart's moving averages are converging, showing a pattern of repeated oscillation in the short term. After continuous fluctuations, the hourly chart's pattern begins to optimize, with short-cycle moving averages diverging upward, indicating a short-term upward trend, but attention should be paid to the pace and magnitude of adjustments.

Trading idea: The 4310-4318 range can be used to set up long positions, with a stop-loss at 4305, targeting 4340-4350.

*Disclaimer: For informational purposes only. The market carries risks; operate cautiously.*

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