Analysis of Gold on December 18
After the decline this week, the overall gold price is still in a downward trend, but the short-term downward trend has slowed down, and it is currently showing a weak consolidation pattern.
The short-term rebound is blocked, and the price is relatively cautious, but due to the large number of fundamental news today, market sentiment may bring a large fluctuation range, so the operation needs to be more flexible. It is recommended to focus on short-term interval operations before the news is announced, focusing on the 2650 line of resistance above and the 2635 line of support below.
When approaching the resistance level, you can try short-term short operations, with the target looking at the 2635 line; when approaching the support level, you can try short-term long operations, with the target looking at the 2650 line, and at the same time, you need to strictly set stop loss and take profit to ensure that the risk is controllable. After the fundamental news is announced, it is necessary to adjust the operation strategy in time according to market changes.
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