#美联储重启降息步伐 **Early Session Gold Watch on December 5: Looking for Short Opportunities Amid Consolidation**

Gold's current trend is a bit tangled. Prices are moving back and forth within a narrow range, but a closer look at the technicals shows the bears are actually gaining the upper hand.

First, the Bollinger Bands: after the three bands narrowed, the upper band has been pressing downward. In the past two days, prices surged to around 4209 but ran out of steam, failing to break through key resistance. More importantly, each rebound has shown weaker bullish momentum, which is not a good sign.

The MACD indicator is somewhat interesting—the green bars are shortening, but there's no bullish crossover yet. Plus, the US dollar has shown signs of strengthening recently, putting pressure on gold prices. Previous buying support is just barely holding up. All in all, there's a strong chance that prices will break below the current consolidation range and drop toward the lower Bollinger Band.

**Trading strategy is simple: Sell on rallies**

If prices rebound to the 4205-4210 area, you can try a light short position.
Set your stop loss above 4220—don't get greedy.
There are two target levels: first at 4195, second at 4185. Take profits in batches.

Remember, this is a choppy market—don’t go heavy, and control your risk.