Gold is just rebounding, the early rebound continues to be bearish!
Familiar rhythm and formula, gold is once again bottoming out and rebounding, but currently it is only rebounding. The rebound of gold is still bearish, and the bullish trend of gold has not reversed. The rebound of gold is an opportunity for bearish sentiment.
The 1-hour high of gold is still in the top structure, and then it falls and breaks through. Gold has not risen again in the 1-hour period to break through the resistance above. The 1-hour moving average of gold is still in a bearish pattern with a dead cross downward, and there is still room for gold bears to go down. The early rebound pressure of gold is 2920, and it will continue to be bearish.
The market is constantly changing, and the rebound of gold bulls is becoming weaker. The rebound of gold is just a paper tiger, and gold bears will eventually gain strength. We'll wait and see.
Morning trading strategy:
Sell gold 2920 short, stop loss 2930. Target 2890-2880;
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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