Spot gold in the Asian market broke down in early trading and rebounded to 2622 short selling!
The early morning market trend of gold was very rapid. Currently, the gold price has broken through the support level downwards. However, if the price drops rapidly in the early morning, do not go short. It is very easy to buy at the highest point and sell at the lowest point by chasing the rise and killing the fall! At the same time, after the gold price breaks the level, the operational strategy for the future cannot simply continue to sell high and buy low. The future will change its mindset and focus on rebounding short positions!
The gold price fell directly in the morning session around the support level of 2622, and has now fallen below and stabilized below 2622. A new round of downward space has opened up, and after the previous low support level fell below, it happened to be an important resistance level for this round of decline. In the morning session, the focus is on referring to the 2622 line for layout! Early rebound reached around 2622 and began to layout short selling!
Specific strategies
Gold 2622 short, stop loss 2630, target 2610
Disclaimer: The above suggestions are for reference only. Investment carries risks, and caution should be exercised when operating
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