Gold 3030 under pressure, short selling
3030 remains empty
On Friday, gold experienced a sharp decline, breaking through the 3000 line at one point and reaching a low of around 2898. Bears began to exert their strength, and of course, the gold price is also a signal of peaking. Currently, high and short positions are the main theme, and the morning bearish candlestick line has directly fallen, leaving a lot of room for further decline.
The four hour long bearish candlestick of gold has continued to fall, and a top signal appeared on Friday, indicating that the bearish candlestick has swallowed up the bullish candlestick. A bearish candlestick has directly broken through the support level, continuously breaking through the 3010 and 3000 lines. This is the strength of the bears. Currently, the rebound of the candlestick is only a rebound, and the decline has been determined. At least 3030 is under pressure, and the 50 moving average shows signs of slowing down. At the same time, there are signs of a downward reversal, and 3030 is under pressure.
Investment strategy: Short sell gold 3030, stop loss 3040. Target 2980
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