Gold rebounded 2635 in early trading and continues to sell short!
Gold is still fluctuating in a large range now. If it rebounds to a high level, do not easily chase after the rise. If it rebounds in the morning, continue to short sell.
The current 4-hour moving average of gold is still in the form of a dead cross downward. The resistance of the gold moving average has now moved down to around 2642, and as long as gold does not break through the resistance above the oscillation, it will continue to be bearish. Gold has been under pressure multiple times and has fallen back near 2640. If it does not break through above 2640 strongly, then gold may still rise and fall back.
The market has not reversed yet, and is still fluctuating within a large range. Is it necessary to chase after the high after the rebound? If gold breaks through, just follow along with the trend. The way of a trader is the simplest.
Operation strategy for morning trading in Asia:
Short selling gold 2635, stop loss 2645. Target 2610-2600;
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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