On February 28th, spot gold closed in a bearish trend, with a high of 2893 in the Asian market
Yesterday, gold suppressed its downward trend around 2920 in the morning session, and overall emerged from a weak pattern during the day. Although there was a rebound in the middle, the closing was still a big bearish trend, continuing Wednesday's decline and forming a continuous bearish trend.
Market analysis
The daily chart shows that a single candlestick has closed with a large bearish candlestick, effectively breaking through the 10 day moving average and the 20 day moving average. The short-term moving average began to turn downwards on May 10th,
Key suppression and support
Pressure level: 2893-2900-2910
Support position: 2864-2846-2835
Trading Strategy
Rebound above 2893-98, defend 2903. Look down at 2882-67, break through 64, look down at the first line. If it is extremely weak, enter the right side of the 88th line with a five minute signal.
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