Gold fell sharply, and then explored the previous low
Updated
The gains of gold from 1955 to 1970 on Wednesday were reaped in the bag again. The support area of 1955 to 1957 suggested in the early trading was effective, so the bulls launched an attack again, but the situation changed suddenly. The rebound trend of gold is still relatively weak, but the overall shock space has been formed. As long as the bottom of this range does not break, the bulls still have a chance to counterattack in the middle. So today, let's look short and then choose an opportunity to buy near the previous low. For gold operation, it is recommended to sell at 1948.80, stop loss at 1952.80, target 1940~1938, and see 1932 if it falls below. In case the rebound is weak and goes directly down, you can try to do long positions at 1933.50, stop loss at 1930, and target 1941~1948.
The gold daily line is engulfed by a big cloud, and the structural reversal is beneficial to the bears.
The previous five-wave decline in wave A has ended, and the market has entered wave B in the medium-term rebound trend. At present, the evolution of the shape is more complicated, but as long as the previous low is not broken, the market will still be volatile recently.
The intraday pressure is 1949~1952, and the support is 1940~1932.
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