CFDs on Gold (US$ / OZ)
Short
Updated

Can gold continue to go long?

131

The 1-hour moving average of gold continues to spread upward, and the strength of gold bulls is still relatively strong. Gold's moving average support has now moved up to around 2983, and today's low for gold is around 2982, so gold still forms a strong support around here. I think gold can be shorted first, and then it can continue to go long if gold falls back around 2985



snapshot
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I don’t think gold’s rise will be smooth, and gold will fluctuate repeatedly in this area.
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Trade active
Gold's 5-minute chart fell rapidly
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snapshot
Our short orders are making profits
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Gold continues to fall, and our short order has made a profit of 10 points
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Gold reaches near 2985, and our short order profits continue to expand
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I think gold can still be bought on dips above 2982
Trade closed: target reached
snapshot
As I expected, gold retreated to around 2985 and then began a strong rebound
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Our gold long order is profitable again by 14 points
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