Short selling of gold 73-74, expected to sell back within the day

2024-12-10 2209

Gold, affected by the situation in the Middle East yesterday, saw continuous bullish momentum. After breaking through the previous range in the European market, the US market rose again, reaching a peak of around 76 before starting to retreat in the early morning. In the morning, it hit around 56 before rebounding again, reaching the position of the previous top bottom transition. Currently, it continues to rise above 70, with the daily chart closing in the form of a bullish candlestick on the upper lead. However, the early morning momentum still needs the secondary support of the European market to achieve the later stage of accumulation. Currently, in terms of the overall trend, after the historical high point of 2790 fell, the downward trend line formed near the previous rebounding high point of 2721 also coincides with yesterday's rebounding high point. We should focus on the short positions below this position first, as yesterday's rise was greatly influenced by news. From the perspective of the market, There is still a chance for bears to retreat, while the support below will continue to remain at the low point in the morning. If the European market breaks below this position, there will still be momentum for the US market to continue to decline. Currently, the pressure above is maintained at the 76th line, which is also the suppression level of the 10 week weekly line. It is expected to retreat and correct after being under pressure. Bold predictions suggest that gold will continue to short around 73-74 during the day, with a target of around 55-45 and a loss of 81.5. If the European market is more strong, the US market can retreat and be eliminated before the day!

 From January 1st, 2024 to present, 1810 points have been harvested. This week's record: 45 short selling and 52 losses;

 [Tuesday Operation]: Short sell around 2673-74 during the golden day, target around 60-50, with a loss of 81.5.

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