You can make a profit by going long or short in gold!For three consecutive trading days, gold has been fluctuating back and forth at a high level. The daily line has closed with a doji for three consecutive days. It has encountered strong pressure in the short term. In the game between bulls and bears at a high level, judging from the current form and indicators, the general trend is still bullish. If it breaks the 2918 position, it may enter the wave structure adjustment in the short term. Today's idea is to first look at the repair at a high position, and then move back and forth in the repair range to find meat. Both bulls and bears have opportunities. We cannot be sure that 2954 is the top of this wave of sharp rise. The short-term small top can be confirmed. Gold has been rising for too long and needs such a technical retracement and adjustment. In addition, today is Friday. If no new high is set today, gold will bring adjustments.
The range of fluctuations we are concerned about in the Asian session is 2954-2918. In this range, we treat it with a fluctuating mindset. If the Asian session breaks 2918, the short-term trend will turn weak. We can continue to short it on the rebound. The daily cross star is the result of the long-short game. Gold is a short-term long-short watershed at 2940. Below this position, we will see weakness.
Support 2918 and 2900, pressure 2948 and 2954, the strength and weakness watershed of the market is 2940.
