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Gold, the bears made another effort yesterday and broke through the previous support line 20. This action also fully demonstrated the short-term short-term downward demand. The daily line continued to close at the negative line, and the moving average system was suppressed. This is a relatively obvious short-selling signal. Then in the short term, we still need to maintain a short-term thinking to operate, and the first target below is maintained around 1905-1900. Once it reaches this range, there is likely to be a wave of small corrections. But the strength should not be strong, and the current pressure on gold is to maintain the top-to-bottom conversion position. At the same time, yesterday's anti-drawing high around 1927 can also be used as a key reference position for the day. The range of retracement should not be very large, because if the range is too large, it is likely to lose the motivation to continue to fall. In the short term, we still wait for the shorts to retrace and continue to short sell:1922-1924 TP:1910-1905
Gold, the bears made another effort yesterday and broke through the previous support line 20. This action also fully demonstrated the short-term short-term downward demand. The daily line continued to close at the negative line, and the moving average system was suppressed. This is a relatively obvious short-selling signal. Then in the short term, we still need to maintain a short-term thinking to operate, and the first target below is maintained around 1905-1900. Once it reaches this range, there is likely to be a wave of small corrections. But the strength should not be strong, and the current pressure on gold is to maintain the top-to-bottom conversion position. At the same time, yesterday's anti-drawing high around 1927 can also be used as a key reference position for the day. The range of retracement should not be very large, because if the range is too large, it is likely to lose the motivation to continue to fall. In the short term, we still wait for the shorts to retrace and continue to short sell:1922-1924 TP:1910-1905
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Will the trend of gold continue this judgmental fluctuation?
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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.