Gold is on a downward trend, short around 2313
Updated
https://www.tradingview.com/x/b4JXGlMa/
Gold tested the downward trend line several times, but to no avail, and went short near 2313.
At present, the K line is still unable to rise. Even if non-farm payrolls are good for gold, the price of gold cannot stabilize at 2320 and still cannot break through the downward trend line. This time it continues to be bearish.
Gold is clearly showing a downward trend line, and its rebound highs continue to move lower. Every time the K line touches the trend line, it will be under heavy pressure. Obviously, there is strong resistance at this position, and the mouth of the Bollinger Band is in a parallel state, forming natural support and resistance. It is currently touching the upper track of the Bollinger Band, which means it has encountered resistance, so it is short position near 2313.
Trading strategy: short gold 2313, stop loss 2320, target 2290
Gold tested the downward trend line several times, but to no avail, and went short near 2313.
At present, the K line is still unable to rise. Even if non-farm payrolls are good for gold, the price of gold cannot stabilize at 2320 and still cannot break through the downward trend line. This time it continues to be bearish.
Gold is clearly showing a downward trend line, and its rebound highs continue to move lower. Every time the K line touches the trend line, it will be under heavy pressure. Obviously, there is strong resistance at this position, and the mouth of the Bollinger Band is in a parallel state, forming natural support and resistance. It is currently touching the upper track of the Bollinger Band, which means it has encountered resistance, so it is short position near 2313.
Trading strategy: short gold 2313, stop loss 2320, target 2290
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