Gold has a callback demand, the current price is Sell
Updated
At present, gold is still rising from a big trend. If it cannot fall below the rising trend line, the gold price will continue its current upward momentum.
However, after yesterday and today's strong rise, gold has a short-term correction demand. Only a fall can have better room for growth. It should be understood that today it has risen by $20 from the bottom again. The gold price has deviated too far from the moving average, and the price has also come to yesterday's high point. There is obviously resistance here.
Therefore, you can choose to sell at a high level near 2440 first, and wait for the price to return to the trend line again, and then look for opportunities to buy, but there is an uncertain factor, that is, the US June retail sales monthly rate later needs to be closely watched.
However, after yesterday and today's strong rise, gold has a short-term correction demand. Only a fall can have better room for growth. It should be understood that today it has risen by $20 from the bottom again. The gold price has deviated too far from the moving average, and the price has also come to yesterday's high point. There is obviously resistance here.
Therefore, you can choose to sell at a high level near 2440 first, and wait for the price to return to the trend line again, and then look for opportunities to buy, but there is an uncertain factor, that is, the US June retail sales monthly rate later needs to be closely watched.
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Very good, the monthly rate of US retail sales in June and the monthly rate of import price index in June are both bearish for gold. We continue to hold the bearish trend unchanged.
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