Gold continues to be under pressure from 2905, rebounding slightly in early trading and remaining bearish!
Gold was closed in the US market last night, and the market energy was relatively weak with small fluctuations. After the rebound at the opening yesterday, gold was suppressed by the 2905 line for the whole day, and it has now formed an effective suppression level. Yesterday, it was also emphasized that gold's rise was only a rebound, and it will continue to decline after the rebound ends! We will start short selling when the gold price approaches 2905 in the morning session!
At present, the market moving average has formed a dead cross and the opening is constantly expanding, which means that the upward energy of the market will further weaken. With the support of the double top around 2940, gold will continue to maintain this weak trend. If you don't pay attention, a sharp drop will occur at the first touch! So currently, the downward trend is definitely stronger than the upward trend. In the morning session, you can plan to short around 2905!
Specific strategies
Gold 2905 short, stop loss 2915, target 2890
Disclaimer: The above suggestions are for reference only. Investment carries risks, and operations should be handled with caution
Tips：This page came from Internet, which is not standing for FXCUE opinions of this website.
Statement：Contact us if the content violates the law or your rights