How did gold move in the first week of December?

há 3 dias

CONCISE & COMPREHENSIVE TECHNICAL ANALYSIS
1. Trend Lines
Ascending trend line (lower black line)

This is the main dynamic support of the current uptrend structure.

The price has bounced off this trend line several times → the short-term trend remains bullish as long as this line is not broken.

Major descending trend line (upper black line)

This is strong dynamic resistance on larger time frames, and the price recently touched this area.

This is an area where selling pressure frequently arises.

2. Support – Resistance
Resistance

4,243–4,245 (red zone):
This is the confluence of the previous peak and the descending trend line → selling pressure appears right in this area.

4,315–4,320 (next major resistance):
If this area is broken, the price will likely head towards 4,375–4,380.

Support

4.147–4.150 (green zone confluence):
Confluence of moving averages, the nearest swing low, and Fibonacci levels → important support that maintains the bullish structure.

4.105–4.120 (lower trendline):
If the price breaks through this area → the short-term trend has the potential to turn bearish.

3. Fibonacci

Fibonacci 0.618 = 4.194
→ Area with a high probability of a rebound if the price corrects.

Fibonacci 0.5 = 4.135
→ Confluence with strong support + trendline → potential buy zone if a deeper pullback occurs.

4. Price Scenarios
Scenario 1 – Continue Upward (Priority)

If the price remains above 4,200–4,215, there is potential for a retest:
➡️ 4,230 → 4,315 → 4,375

Scenario 2 – Downward Correction

If the price breaks through 4,190 and breaks through the green zone of 4,144–4,150, then:
➡️ Risk of a downward movement towards the 4,105–4,120 trend line

📌 Trading Plan
BUY GOLD: 4,148 – 4,250

Stop Loss: 4,138

Take Profit: 100–300–500 pips

SELL GOLD: 4,313 – 4,315

Stop Loss: 4,325

Take Profit: 100–300–500 pip

anteontem

Nota

Gold (XAU/USD) maintained its upward momentum in the first half of the European session on Monday and is currently trading near its highest level since October 21. Traders increased the possibility of another rate cut by the US Central Bank following recent dovish comments from some Federal Reserve (Fed) officials.

anteontem

Nota

Gold (XAU/USD) maintained its upward momentum in the first half of the European session on Monday and is currently trading near its highest level since October 21. Traders increased the possibility of another rate cut by the US Central Bank following recent dovish comments from some Federal Reserve (Fed) officials.

anteontem

Nota

A series of weak US macroeconomic data released after the US government reopened has strengthened the case for further Fed easing in December, and dovish comments from Fed officials have confirmed this view. CME Group’s Fedwatch tool is pricing in an 85% chance of a 25 basis point rate cut in December, with two or three more cuts by 2025.

Technical Analysis: Next resistance is in the $4,300 region