Short

Focus on 2700, short on highs in US trading

Updated

Gold's 1-hour moving average continues to diverge downward in the short position, without any signs of turning. Gold's short position has not ended yet, and there is still room for downward movement. Yesterday's rise in gold has digested the expectations brought by the interest rate cut. It has fallen back after being under pressure at 2710 many times, indicating that gold's bullish momentum at high levels is not strong. The US market rebound is still short. Gold rebounds below 2710 in the US market, and it continues to be short at highs.

It can be shorted first when it rebounds near 2700. The market changes rapidly. Don't be fooled by the seemingly strong rebound as a reversal. Gold continues to be short.

Trading strategy:
Shorting on rallies in US market.
SELL: 2699-2701

Trade active

Delete it. The selling plan was cancelled, and DXY rose straight up. However, gold did not fall. The technical analysis resistance is likely to be invalid. We will no longer sell gold

Note

Gold is not afraid of the rise of the US dollar index and has broken through the 1-hour trend line. Be wary of further rise. 2710 above is the resistance of short-selling defense. After breaking through, it will soon reach 2720~2730. The support below is at 2695.

Jun-GoldAnalyst

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