The daily cycle is constructed based on the M-head pattern. 3202 is the bullish defense position. If it cannot go up at the closing, there will be declines later. A major technical breakdown has occurred. Pay attention to the change in thinking. It rises quickly and falls just as quickly, but the long-term rising logic of gold remains unchanged. It is also an opportunity to deploy more when it goes down, but the position needs to be observed by the market. It is difficult to predict at present. In the short term, rely on 3198 to do short selling. After breaking 3200, pay attention to shorting even if it rebounds. If it rebounds upward, go short at the golden section resistance of 3265. After gold fell below 3202, it rebounded to 3198 at its highest. This rebound was just an oversold rebound, and then it continued to fall back. Although it has not refreshed the low for the time being, the pattern has weakened and it is difficult to rise again. Weak shorts can hardly get past 3198. The short-term support below is 3150. Gold continues to form a downward short cross in the 1-hour period. The strength of the shorts is still there, and the rebound continues to give shorts opportunities. There is no obvious sustained upward momentum in the short term, so such a market is just a rebound. Gold continues to be short in the US market rebound. The short-term operation of gold is recommended to be short on rebounds and long on pullbacks. The short-term focus on the upper side is 3202-3205 resistance, and the short-term focus on the lower side is 3150-3155 support.
Weekly profit exceeds 200 percent. 70-80 percent accuracy of trading signals.
t.me/+8XRxoUJXG1ExMmFk
t.me/+8XRxoUJXG1ExMmFk
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.
Weekly profit exceeds 200 percent. 70-80 percent accuracy of trading signals.
t.me/+8XRxoUJXG1ExMmFk
t.me/+8XRxoUJXG1ExMmFk
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.