The gold price rose early but encountered obstacles, so it was sold short at 2871 in the morning!
The early morning rise of gold was fierce, but currently on the market, the one hour trend has touched near the pressure level of the 60 moving average, and a bearish line has appeared in the continuous upward trend. The gold stagflation has shown a top signal, and it is expected to break out of the peak circuit in the later stage. In the morning, we will maintain the high rebound from last weekend's closing point!
The morning rise of gold is a signal of an accelerated upward trend, but after the accelerated rise, it falls back and the hourly line closes with a long upper shadow line. This means that gold is the last wave of rise. It is common for the market to continue to decline after a continuous decline. Therefore, in the morning, we rely on the high point we reached as pressure, and we are directly short on the 2871 line!
Specific strategies
Gold 2871 short, stop loss 2879. Target 2855；
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