There will be a rebound after a sharp decline.
Updated
Gold has experienced a rapid decline in the short term due to market investors' concerns about Powell's speech and non-farm data, which led to an anticipated drop. However, after Powell's actual speech, gold did not rebound from the key support level of 1830 as expected by investors, but instead broke through this strong support level. This indicates that the overall market sentiment towards gold is pessimistic and not influenced by a small number of people, but the sharp and heavy drop this time was too much. Therefore, my personal opinion is to recommend buying on dips, entering the market with a small position, and taking advantage of the possibility of a rebound near the strong support level of around 1823 points, so investors can consider entering long positions around 1820-1823 with the first profit target at 1845 and the second profit target at 1852, with a stop loss around 1804.
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