Has gold started to sideways again? Calm down, brewing a bigger storm!
Breakthrough and fall again, fall below and break again! Yesterday, the gold price fluctuated around the $2600 mark. Is an opening or closing point important or not? The current range of gold is still between 2580-26102580, which is also a strong weak watershed position. At the same time, if it falls below 2580, the probability of gold falling by 2530 will increase; The probability of gold re entering the new testing pressure trend has increased as it breaks through and stabilizes at 2610. Therefore, for now, the overall direction can only focus on this range.
Today, there is still a risk of continuous decline in gold prices. "Bottom fishing" seems to have become a derogatory term in the market, and any currency has lost this function. Short selling has become the only option and the best direction. If gold loses the support of 2580, there will be a further $50 drop. Today's high and low point areas have become the key to the long short game.
Golden position: Short sell at 2607-10, defend at 2617, target at 2590-84!
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