After falling for several days in a row, where should gold go?

Gold technical analysis: After the gold opened in early trading, the price shot straight up, with the opening price at the 2858 line, which is a strong short-term support level. After rising in early trading, according to market inertia, there is a high probability that the European market will continue to rise. The strong pressure above is at the 2885 line. When the price touches this point for the first time, short selling can be carried out during the day. Since the opening of the morning session was directly pulled up sharply, the entry position for long positions today will obviously not be too low. However, it should be noted that since the rebound of 2832, the possibility of directly hitting a new low again today is extremely small, so the probability of a direct sharp drop in price is unlikely. However, don’t think about gold too simply. The short trend does not mean that it will continue to fall without a counter-tick. It can be found that before gold fell, it made two supports near 2890. If it falls below 2890 later, then 2890 will change from a support to a suppression position. In the short term, the upper side focuses on the resistance of 2880-2890, and the lower side focuses on the support of 2860-2850.

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Trade active

Since the rebound from 2832, it is very unlikely to break the new low again today, so the probability of a sharp drop in prices is not high. The short-term focus on the upper side is the 2880-2890 line of resistance, and the short-term focus on the lower side is the 2860-2850 line of support. Brothers, profit is the ultimate goal of trading, and accumulating profits is what changes your life and destiny. Wise choices are far more important than hard work. If you want to copy trading signals and make money a part of your life, or want to learn the correct trading logic and skills in depth, you can consider joining the channel at the bottom of this article.

Trade closed: target reached

Brothers, profit is the ultimate goal of trading, and accumulating profits is what changes your life and destiny. Wise choices are far more important than hard work. If you want to copy trading signals, make stable profits, or want to learn the correct trading logic and skills in depth, you can consider joining the channel at the bottom of this article.

GoldKing_Allen

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