Gold Analysis Today DECEMBER 12, 2024 Strong Growth or Collapse?

SPDR Gold Trust Gold Fund bought 2.59 tons of gold yesterday, December 11

Important resistance: 2733 - 2740 - 2750
Important support level: 2680 - 2675 - 2700

XAUUSD trading strategy
around price area:

BUY XAUUSD around 2700-2701
Stoploss: 2695
Take Profit 1 : 2710
Take Profit 2: 2720
Take Profit 3: 2730

“If there is a break through the 2728 area during the day, we should watch to sell around the 2749-2750 area in a long-term channel.”

SELL XAUUSD around 2749-2750
Stoploss: 2756
Take Profit 1 : 2745
Take Profit 2: 2740
Take Profit 3: 2733

Note: Always install Stoploss in all cases to be safe!