Gold will fall after rebounding, what do you think?
Updated
Dear friends, today gold hit its lowest level near 2006, and then rebounded. Currently, gold has rebounded to near 2023. Is the power of gold bulls returning strongly? Will gold hit the 2050 position again?
https://www.tradingview.com/x/JWSf4LPv/
In fact, the current rebound in gold is mainly due to the following reasons: 1. The conflict in the geopolitical situation has led to an increase in safe-haven buying, supporting the rise of gold; 2. There is a need for a rebound and correction after gold fell sharply; 3. After gold fell sharply, buying funds were slowly flowing in to stimulate buying.These three points support the rise of gold, so will gold hit 2050 again? I don’t think gold has the conditions to hit 2050 in a short time. Because the current short-term rebound of gold can only be regarded as a rebound correction after a decline for the time being, and a trend reversal cannot be determined. In addition, the market will not easily unwind funds that were trapped at high levels in the early stage. Therefore, gold will fall back again after rebounding.
Therefore, in short-term trading, we cannot start chasing gold in a large amount just because gold has risen. At present, gold has rebounded to near the 2023 position and faces short-term resistance in the 2026-2028 area, so I think we can continue to short gold around the 2023-2025 area. I share detailed trading ideas and trading strategies every day. The gears of destiny are turning. I hope that with my help, we can all make continuous profits in the market! And you can follow the channel at the bottom of the article to get detailed trading signals, trading lots, and TP and SL.
https://www.tradingview.com/x/JWSf4LPv/
In fact, the current rebound in gold is mainly due to the following reasons: 1. The conflict in the geopolitical situation has led to an increase in safe-haven buying, supporting the rise of gold; 2. There is a need for a rebound and correction after gold fell sharply; 3. After gold fell sharply, buying funds were slowly flowing in to stimulate buying.These three points support the rise of gold, so will gold hit 2050 again? I don’t think gold has the conditions to hit 2050 in a short time. Because the current short-term rebound of gold can only be regarded as a rebound correction after a decline for the time being, and a trend reversal cannot be determined. In addition, the market will not easily unwind funds that were trapped at high levels in the early stage. Therefore, gold will fall back again after rebounding.
Therefore, in short-term trading, we cannot start chasing gold in a large amount just because gold has risen. At present, gold has rebounded to near the 2023 position and faces short-term resistance in the 2026-2028 area, so I think we can continue to short gold around the 2023-2025 area. I share detailed trading ideas and trading strategies every day. The gears of destiny are turning. I hope that with my help, we can all make continuous profits in the market! And you can follow the channel at the bottom of the article to get detailed trading signals, trading lots, and TP and SL.
Trade active
Xauusd:@2023-2025 Sell, TP:2014
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