Gold 2663 fell and harvested as scheduled, rebounded in early trading and continued to sell short at 2665!
Gold continued to fall as scheduled in the US market overnight, following the same script. Gold fell sharply at 2663 as scheduled, but yesterday it continued to rise and fall. Long positions made false breakthroughs, and gold remained bearish in the morning session.
Although gold broke through a new high yesterday, it still did not stabilize but surged and fell below the high point again. Therefore, the high point did not convert into support and still formed a suppression. Gold is now expected to form a triple top structure in one hour. Yesterday, gold was under pressure of 2670 to suppress its decline. In the morning session, it continued to short sell at high levels below 2670, and gold rebounded around 2665 to continue short selling.
This is the market trend. We have always said that after breaking through, we must wait and see the stability of the market. If gold really breaks through falsely, then it is tempting the bullish market. Should gold continue to rebound in the morning or remain bearish.
Operation strategy for morning trading in Asia:
Gold 2665 short, stop loss 2675. Target 2635-2630;
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