Gold Sell signal makes perfect profit, rebound can sell again
Gold's non-farm positives are significant, but technically, it's still in a bearish trend. Currently breaking through new lows, the bearish trend continues. Our strategy of selling at high levels this week also ended perfectly, with successful profit-taking at multiple TP levels, yielding very good profits.
Technically speaking: Gold's 4-hour moving averages continue to cross downwards in a bearish pattern, unable to break through the resistance of the moving averages. It surged briefly but then fell back, and even the strong non-farm positives couldn't reverse the downtrend for gold bulls. The bullish momentum for gold is weak, so we can continue to focus on shorting.
We've closed this week perfectly with gold; if you're planning to trade, continue to focus primarily on shorting during rebounds, with the first key resistance near 2300.
Technically speaking: Gold's 4-hour moving averages continue to cross downwards in a bearish pattern, unable to break through the resistance of the moving averages. It surged briefly but then fell back, and even the strong non-farm positives couldn't reverse the downtrend for gold bulls. The bullish momentum for gold is weak, so we can continue to focus on shorting.
We've closed this week perfectly with gold; if you're planning to trade, continue to focus primarily on shorting during rebounds, with the first key resistance near 2300.
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