XAUUSD: If the rebound is blocked, you can sell boldly
Updated
As expected, gold is now adjusting after a sharp drop last week. Yesterday, under the influence of Biden's withdrawal from the election, the price of gold fell to 2384, but then rebounded to around the 2400 integer mark, and did not form a unilateral market. From the overall trend, the low point is constantly moving down, so we can continue to be bearish in the general direction. The main short-term strategy is to sell at high levels.
At present, the price of gold is rebounding, but it will not last too long. The pressure near 2412 and 2420 above is difficult to break through. If it cannot break through, it will only rebound, not reverse. If it is not a reversal, you can boldly sell at high levels
At present, the price of gold is rebounding, but it will not last too long. The pressure near 2412 and 2420 above is difficult to break through. If it cannot break through, it will only rebound, not reverse. If it is not a reversal, you can boldly sell at high levels
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The rebound of gold prices has slowed down and is getting closer to the Sell high pointTrade active
Gold price hit the previous high of 2412 and showed signs of falling. We continue to maintain the high Sell view unchanged.Trade active
Gold's decline has begunTrade active
The two US data just released are both bullish for gold. I have taken profits first and will continue selling after the data is digested.
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After the bullish data brought by the data was digested, gold fell again. If it can fall below 2400 points in the short term, the room for decline will continue to expand.
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