In the early session, gold did not rise directly but maintained a volatile trend. In the absence of significant unexpected events and major data stimulation, such a trend is likely to continue for a long time, which is quite beneficial for our subsequent operations.
It was mentioned early in the morning that as Christmas approaches, if there are no special circumstances, gold is likely to experience a volatile market, so it is essential to avoid chasing highs and selling lows. Since gold is difficult to break upward, do not expect much from the bulls in the short term, as they currently lack the ability to reverse the situation and drive gold to turn around. Today, gold rebounded to 2633 and then began to decline, facing pressure below 2620 during the US session, where short positions can continue to be taken at highs.
This is the current market situation; one cannot assume a market reversal just because there is a rise. It is important to understand the logic behind the market's ups and downs, distinguishing between a regular rebound and a genuine reversal, which is the difference between an expert and an ordinary investor. Since gold's upward movement is obstructed, the bulls may only briefly appear. Currently, the short-term focus is on the resistance zone of 2628 - 2633 above, and the support zone of 2600 - 2595 below.
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