Gold falls and continues to buy on dips!
Yesterday we talked about the importance of gold at 2860, and after falling below 2860 in the European market, gold quickly fell below 2850. However, with the support of yesterday's strong daily bullish trend, there is no confidence in short selling. It is advisable to continue buying on dips when the market stabilizes and falls back!!!
From the golden hour chart, it can be seen that the bottom line has been reached, and the decline may have already been in place. However, the 4-hour chart is still almost meaningless. Be careful not to come back and wash the market again. Therefore, it is advisable to trade cautiously at present. The defensive position for bulls is below yesterday's low of 2840, which means the ideal entry position should be below 2845.
Of course, if the 4-hour chart closes above 2860 after 19:00, it is basically confirmed that the bottom has been reached. At that time, we can rely on the current low point of 2848 as a defensive long position, and the target level above will continue to point towards around 2915!!!
(Investment carries risks, caution is required when entering the market; the above suggestions are for reference only, and profits and losses will be borne by the operator based on this.)
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