Spot gold prices are expected to decline within the day, with a target around 2915
Today, gold is expected to decline
Overnight gold still hasn't risen enough. Although the gold price has returned to its starting point, the candlestick has briefly fallen to around 2917. In the short term, there is still a bit of stagnation due to lack of momentum. Currently, we are still looking for a pullback, and the bottom is the target level of Wolf Brother, which is yesterday's lowest point around 2917
The daily levels of gold are mostly bullish, but they also deviate significantly from the moving average. This is an abnormal trend, and collapse is inevitable. Wolf Brother always believes that the candlestick should return to the moving average, which is a natural thing because the price of the candlestick is dynamically balanced around the upper and lower parts of the moving average, that is, one bearish and one bullish, which is called the 'Dao'. Short selling at 2947 is necessary
At present, the market is slowly returning to rationality, and at the same time, the United States and Russia have resumed diplomatic relations, easing the tense atmosphere. Risk aversion has cooled down, and bearish sentiment towards gold is inevitable. Below is the sharp decline of the sword
Investment strategy: Short sell gold 2946, stop loss 2956, target 2910;
Disclaimer: Investment carries risks, caution is required when entering the market
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