Gold rebounded, but the rebound was not large. Today, there is still a trend of continued weakening. Gold encountered 3026 pressure and fell under pressure. Pay attention to shorting opportunities near 3022
The hourly chart suppression point of gold is around 3038. As long as the trend line is not stable, gold may still retreat. At present, we need to pay attention to whether 3038 can be stabilized. As long as you do not stand firmly above this position, you can rely on the 3030-40 range to go short.
The 1-hour moving average of gold has begun to turn slightly downward, and the strength of gold bulls has been suppressed. The 1-hour gold has now formed a head and shoulders pattern. If the strength of gold's rebound is limited, then the room for further decline of gold will increase.
Trading idea: short gold around 3032, stop loss 3042, target 3022
Gold is still fluctuating at a high level. Pay attention to the pressure near 3040, stop loss around 3047, and take profit around 3020. Be careful of risks.
Gold 1-hour chart has fallen from a high level, so it is difficult for gold to rise directly without news support in the short term. You can continue to short gold after it rebounds. If the Fed's interest rate decision does not rise sharply, then the idea of shorting gold at a high level will continue. Gold rebounds to observe 3045 pressure level
Gold bulls are too crazy and there is no chance of a pullback. So when the market is too hot, you have to be careful. You need to be cautious when doing long positions at high levels, and beware of gold falling back after a surge and starting to make a sharp adjustment.So at this position I think shorting would be better
The 1-hour moving average of gold continues to spread upward, and the strength of gold bulls is still relatively strong. Gold's moving average support has now moved up to around 2983, and today's low for gold is around 2982, so gold still forms a strong support around here. I think gold can be shorted first, and then it can continue to go long if gold falls back...
The gold market will face a key test next week. The pressure at the round-number mark of $3,000 cannot be underestimated, and the price will inevitably undergo a correction process.
Or it may show high fluctuations, with last Friday's retracement low of 2979 as support, and it can repeatedly rise to digest the pressure above. Or there will be a larger...
