12.11 Gold Asian Session Price Analysis and Strategy

The Federal Reserve cut interest rates by 25 basis points as expected overnight, and Fed Chairman Powell's speech signaled a dovish stance. Gold experienced wide volatility before rallying again, establishing a sideways upward trend. The price rebounded from a low of 4182 and reached a high of 4247 in the early session, with a fluctuation range of 65 points. Overall, short-term gold remains in a relatively strong oscillating upward momentum. It is recommended to mainly buy on dips.

The current 1-hour chart shows a strong oscillating upward structure, and it is expected that gold will continue to accumulate upward and test key resistance levels. The key support below is around 4200, which can serve as the main reference for entry after a pullback. Attention should be paid that the price is now close to the resistance zone around 4265. Going long directly carries higher risk; patience is advised for a pullback opportunity.

Trading Strategy:
Near the current price of 4240, consider a small short position with a stop loss at 4248, targeting a decline to the 4220-4210 area. If gold pulls back and stabilizes around 4210-4200, consider reversing to go long.