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2025-12-17 20:45:41
[Spot Gold Technical Analysis] Gold prices have completed their correction after the previous pullback and recently rose to around $4,300. On the daily chart, the low was at $3,886.51, followed by a trend reversal, forming a clear support zone around $4,200.00. Recent upward pressure is concentrated around the horizontal resistance zone near $4,340, with previous highs at $4,353.36 and $4,381.29, indicating repeated trading and attempts to break higher at these levels. Structurally, $4,200.00 is more like a "cost line" where bulls and bears diverge, while the area above $4,340 is closer to a "sentiment line." The movement between these two levels will determine whether short-term fluctuations are a continuation of the trend or range-bound trading. In terms of technical indicators, the MACD shows DIFF at approximately 60.33, DEA at approximately 53.37, and the histogram at approximately 13.90, all still above the zero line and maintaining positive values, indicating that the medium-term momentum has not weakened significantly. However, the changes in the height and slope of the histogram also suggest that the expansion of momentum is not linear, and the market is more likely to exhibit a rhythm of "upward movement accompanied by pullbacks." The RSI is approximately 70.24, a common high threshold, meaning that while short-term buying power is strong, it also indicates that the price is more sensitive to positive information: when the indicator is in a hot zone, any macroeconomic signal that is inconsistent with expectations is more likely to trigger profit-taking fluctuations, but this does not automatically equate to a trend reversal, but rather reflects an increase in volatility. Combining pattern observation, the current daily chart is closer to the characteristics of "expanding volatility in an upward trend": the price is accompanied by larger amplitudes during the rise, reflecting both the bulls' willingness to continue at higher levels and the bears' more active defense near key resistance levels. The area around $4200.00 corresponds to trend support and willingness to buy, while the area around $4340 to $4380 corresponds to high-level supply and crowded sentiment.
