Gold opens low and goes low, rebounds in early trading and continues to be bearish!
Gold opened low and fell in the morning session, but it continued to be weak and fell at a high level. The bearish sentiment in gold is now strong, and the rebound is an opportunity to continue giving short positions. The early rebound in gold continued to be bearish.
The bearish alignment of the 1-hour moving average of gold with a dead cross downwards, and if it continues to open downwards, then gold is now the home ground of bears. The rebound of gold is still bearish, and below the current gap, there is a bearish trend. If gold rebounds near 3037 in the morning and fills the gap, it will continue to be bearish, and resistance near 3037 will continue to be bearish.
The market is constantly changing, and since gold bears are now better off, a rebound means continuing to be short. However, the volatility of gold is too active now, and it will continue to be bearish after the market stabilizes.
Morning trading strategy:
Short selling gold 3037, stop loss 3047. Target 3000-2990;
Disclaimer: The above is purely a personal opinion sharing and does not constitute operational advice. Investment carries risks, and profits and losses are borne by oneself.
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