The overall change in the gold market on Monday was not significant;

After a significant pullback last Friday, it is necessary to first go to the bearish position and fall back on Monday;

In terms of location, the first reference is 2894-95, and the second is 2906-07,

The first test around 2893 in the morning began to decline, and in the afternoon, it continued to be under pressure due to 06-07.

Trading in the US market was relatively light due to Monday being the presidential holiday;

If the overall amplitude of a market trend is large and resistance cannot be found in larger cycles, it may be more intuitive to switch to smaller cycles;

After playing for 5 or 15 minutes, you will know why the positions 93-95 and 2906 are vacant;

These are the two positions where the market opens for a decline after early Friday morning. The most memorable position in the market is usually the entry level;

The daily chart has fallen behind the bearish trend and has not continued its weak form. Instead, there has been a price correction, especially between the US market and early morning, with a sustained sideways trend around 2900, which will increase the demand for a pullback;

Yesterday's price retraced based on 2906, which is today's watershed. There may be a breakout pattern, but it must be a rapid decline below 2906. If a breakout pattern appears in a corrected market, one needs to be cautious of turning points;

In the one hour chart, the resistance zone for the overall rebound from the short-term low point to the high point is at 2908618 and the resistance zone is at 2916. These are the two short selling positions today. However, from the perspective of puncturing, on the one hand, the breakthrough strength is relatively small, and on the other hand, a rapid rise and fall are needed. Therefore, the position should not be slightly higher, which means that we cannot go to the 618 fall, and we need to refer to the area around 2908-10 of 50;

Therefore, today's viewpoint can wait for the market to break through 2906 and enter the short position. If you continue to rely on yesterday's high point to bear pressure and the European market continues to fall, then you can arrange for short positions in the evening. After the price correction, it is not advisable to go long today. It is more likely to fall directly in a sideways trend or break through the high and fall back!