The decline in gold is not over yet, and it's time for $3000 to break through
This week, gold rose for three consecutive days from Monday to Wednesday, reaching a new high of 3057 on Thursday before falling back and closing in the dark. On Friday, it fell due to the strengthening of the US dollar and profit taking. Although it rebounded in the late trading session, a bearish candlestick with a lower shadow was still formed on the daily chart, and a bullish candlestick with an upper shadow was formed on the weekly chart.
This week, gold prices continued to hit historic highs due to geopolitical tensions and economic uncertainty. Despite a pullback on Friday, the overall trend remains strong. Looking ahead to next week, the further development of the Middle East situation and the implementation of Trump's tariff policies remain key factors affecting market trends. In addition, economic data and policy developments also need to be closely monitored.
The large cycle structure of gold has been elaborated multiple times before, and will not be repeated here. This week, we need to closely monitor the breaking status of 3047 and the high point 3057, which are the key turning points for judging the current market trend. If the market is running below these two positions, there is a high possibility of continuing to maintain the adjustment. Within the day, it is necessary to provide a 3000 integer level. Whether gold can expand its decline depends on this position.
Today's trading strategy:
Gold rebounds by 3025, short selling, defending by 3032, targeting 3010-3000;
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