At present, the big cycle pressure of the gold market has all come out, and the high point is constantly moving down, and the MACD green kinetic energy column is increasing. The indicator is further down, showing a stronger bearish signal. But note that the RSI indicator is currently 42.99, gradually entering the oversold area, and there is a need for repair in the short term. Rebound and then go short. Do not chase short at present. From the four-hour level, the upper 3500 and 3440 positions form a double top. After gold broke below 3200 yesterday, it can continue to look down in the C wave we analyzed before. However, there is currently a step support in the downward channel, and the gold price has also rebounded slightly. After the rebound, the author still maintains a bearish view, and the short-selling idea continues to look down.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.