Overnight gold storm tsunami, 2900 under pressure
Gold has reached its peak
Overnight gold surged for a thousand miles, reaching around 2868 at one point and falling directly from the 2920 line. This sharp drop is undoubtedly a signal of peaking, especially in daily level trend charts, where there is a clear rhythm of bottoming out and no room for rebound. Obviously, the Air Force is directly sweeping through, and the rebound is covered by the bearish candlestick, with no blind spots in 360 degrees
The trend of the four hour moving average is also a continuous downward trend of the bearish candlestick, suppressed by the firepower of the moving average, and rubbed on the floor. At the same time, the moving average has clearly turned downwards, and there is currently no support below it, directly breaking through to the 2800 or even 2700 line. However, the market is cautious to prevent rebound. If the candlestick rebounds to 2900, it will obviously continue to be long. Otherwise, close your eyes and sell short
Investment strategy: Short sell gold at 2900, stop loss at 2910, target at 2900
Disclaimer: Investment carries risks, caution is required when entering the market
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