Gold is rapidly falling, but it rebounded in early trading and continues to sell short!
The 1-hour moving average of gold has started to turn downwards, and the bullish trend of gold has temporarily declared a period. If the moving average forms a dead cross downwards, the downward space of gold will increase, and the 1-hour moving average of gold is now suppressed by the downward trend; The downward resistance has moved down to around 2708, and the early rebound below 2708 continues to hit high levels. Short selling can be done before rebounding around 2705.
The market is constantly changing, and now gold bears have the upper hand. The rebound is an opportunity to continue giving short positions.
Early operational approach:
Short selling gold 2705, stop loss 2715. Target 2685-2680;
Disclaimer: The above is purely a personal opinion sharing and does not constitute operational advice. Investment carries risks, and profits and losses are borne by oneself.
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