Gold 2948 short selling
Overnight gold was short sold at the 2921 level, with the bearish candlestick plummeting to around 2907. Short positions were harvested, while long positions were bought at 2912. The bullish candlestick took off directly, with a profit taking exit. It's just that bullish. Currently, the candlestick is expected to fall, while the lower level is still at the 2910 level
The gold hourly chart seems to have a strong bullish trend, but the price of gold still deviates significantly from the moving average, which is obviously abnormal. The price of gold and the moving average have a regression relationship, so it is inevitable for the price of gold to fall back to the moving average. The moving average shows around 2910, which is also our target level. The short-term resistance above the gold price is still strong, especially the 2955 line, which is a historic resistance. Today, we can see a decline
Investment strategy: Short sell gold 2948, stop loss 2958, target 2910;
Disclaimer: Investment carries risks, caution is required when entering the market
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