Gold falls below the range and oscillates, turning into a bearish market in the short term!
After several trading days of interval adjustment, gold has finally made directional progress. Currently, the gold price is choosing to break below and the volatile market suddenly turns bearish. As we mentioned earlier, we should keep looking for volatility in the interval and continue to do so after the market has a directional breakthrough! Our operational approach this morning was immediately adjusted to a strategy of rebounding high altitude!
The market is oscillating at a low level, and it is obvious that the energy for market rebound is very weak. However, it cannot be ruled out that the gold price will continue to adjust upwards. Therefore, even if gold is very weak in the morning, do not chase short positions. The support level in the front range is the 2895 line, which turns into a key pressure after falling below it. The further pressure level is the downward pressure of the moving average near 2902. When the gold price rebounds to 2895 in the morning, it can start to be short! Just lead the defense and place it above 2902!
Specific strategies
Gold 2895 short, stop loss 2903. Target 2880
Disclaimer: The above suggestions are for reference only. Investment carries risks, and operations should be handled with caution
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