Gold trading: 2719-2720 short selling, short-term testing of the top

2024-12-12 2656

Gold, after a rapid decline in the morning yesterday, continued to rise in the European and American markets, continuing its previous strength. After reaching a high of around 21 in the early morning, it rebounded slightly again around 26 in the morning and quickly retreated again, reaching a low of around 00. However, the recent market trend has been somewhat unexpected, and the general morning pattern is difficult to continue, requiring support from the European market. Overall, since the bulls broke through 2650, although the current upward trend is relatively perfect, the key pressure above cannot be underestimated. In addition, there is a high degree of uncertainty in the current market situation, and there may be changes in the pattern at any time, which are also uncontrollable. Currently, the daily chart has risen in three consecutive bullish patterns. In addition, with the early bottoming out and rebound, there is indeed a possibility of continuing the upward trend, But for the current price, continuing to chase long is somewhat weak, and the support below is maintained at the morning low of the 00 line. This position may form a certain range oscillation with the previous high of 25. Currently, we are still waiting for short selling near the upper pressure port. In this case, gold will first withdraw to short selling around 19-20 during the day, with a target of around 05-00 and a loss of 26.5!

[Thursday Operation]: Gold intraday retracement near 2719-20, short selling, target around 2705-2700, loss 26.5.

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