XAUUSD: Market Analysis and Strategy for December 3rd.

Gold Technical Analysis:

Daily Resistance: 4300, Support: 4131

4-Hour Resistance: 4245, Support: 4160

1-Hour Resistance: 4230, Support: 4180

Technically, the "hammer" candlestick pattern on the daily chart from the previous trading day indicates strong buying pressure on dips. Both the daily and 4-hour charts maintain an upward channel, and the moving average correction is largely complete, suggesting a continuation of the upward trend. The next key resistance level to watch is the 4245/4250 area; a decisive break above this level is crucial for short-term gains. The MACD/KDJ correction is also largely complete, with support around 4180.

Combined with the 1-hour chart, the price has pulled back after a surge. We await a bottoming out before looking for buying opportunities.

During the NY session, we plan to buy on a pullback to around 4180/4170.

BUY: 4180near

BUY: 4170near

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