Due to the dovish remarks of the Federal Reserve and geopolitical conflicts, gold rose further. After hitting a low of around 1853 overnight, it rebounded again and has now reached a high of around 1870. According to the current structural trend of gold, if gold breaks the $10 fluctuation range in the past two days, gold may maintain its upward trend for the time being. The initial pressure above is in the 1878-1880 area, while the first support below is in the 1861-1859 area, followed by the 1856-1854 area. https://www.tradingview.com/x/dedkUogt/
Therefore, for gold trading, stable friends can wait for gold to fall back and then go long gold based on the relative support level. Friends with aggressive trading styles can participate in a short-term short-selling opportunity after gold touches the 1878-1880 area.
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At present, gold continues to rebound upward. If gold is close to the 1878-1880 area, we can try to short gold.
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