**Spot Gold:** On December 19, spot gold experienced a short-term decline during the late Asian session, trading near $4,318 per ounce, down nearly $15 intraday. Multiple factors contributed to the drop, including weak U.S. CPI data, which diminished gold's appeal as an inflation hedge. Additionally, a rebound in dollar demand and improved market risk sentiment added downward pressure.
**Technical Analysis:** On the 1-hour chart, gold remains in a weak corrective phase after recent highs, with no clear trend reversal yet. The price has retreated to the mid-lower range of its consolidation zone, reflecting a normal pullback after gains. Key resistance lies at the upper Bollinger Band ($4,352). A breakout above this level could signal a retest of the all-time high ($4,381) and the psychological $4,400 mark. Conversely, if bearish momentum persists below the December 17 low ($4,300), further downside toward $4,271 (December 16 low) and the 100-day EMA ($4,257) is possible.
**Trading Strategy:** - *Short Positions:* Aggressive entry at $4,345–4,353; conservative entry at $4,368–4,376. Stop-loss: $12; target: $20–40 profit. - *Long Positions:* Aggressive entry at $4,299–4,292; conservative entry at $4,272–4,265. Stop-loss: $12; target: $20–40 profit. **Pivot Level:** $4,302/oz.
**WTI Crude Oil:** **Fundamentals:** Oil prices weakened as geopolitical tensions eased, with no immediate escalation in Venezuela-related supply risks. Market focus remains on potential U.S. intervention and Russia-Ukraine ceasefire talks, limiting upside momentum.
**Technical Analysis:** The bearish structure persists, with medium-to-long-term moving averages pointing downward. RSI remains neutral-to-weak, suggesting subdued buying interest. Immediate support at $55 is critical; a breach may trigger further declines. Resistance is seen at $56.8–57.8.
**Trading Strategy:** - *Short Positions:* Aggressive entry at $56.4–56.8; conservative entry at $57.6–58.0. Stop-loss: $0.60; target: $54.8. - *Long Positions:* Aggressive entry at $54.8–55.2; conservative entry at $53.8–54.2. Stop-loss: $0.60; target: $57.0. **Pivot Level:** $57.0/barrel.
*Disclaimer: This analysis is for reference only and does not constitute investment advice.*