Shorting gold, PPI data will be an opportunity!
After gold's short-term rebound to 2348 today, the rise has stalled again. So does gold still have the potential and willingness to go up? In fact, judging from the current market, I personally prefer to be bearish on gold. And I have also shorted gold above the 2346 position.
As far as the recent structure of gold is concerned, although gold has recently hit a maximum of around 2378 during the rebound, it seems to have the potential to hit 2400 again. However, the strength and amplitude of the rebound during this period were too fast, and there is no solid bullish foundation below.It's more like the market is deliberately pulling up, making the market more confusing. In addition, in the short-term structure, although gold touched the 2336 position many times and rebounded, it did not break through yesterday's high. The resistance in the 2350-2355 area showed strong resistance and built a double-top structure in the ultra-short-term structure. The short-term trend is still bearish.So in terms of trading, I'm still biased towards shorting gold. PPI data will be released later, which may be an opportunity to fall below the 2335-2330 area in the short-term structure.
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As far as the recent structure of gold is concerned, although gold has recently hit a maximum of around 2378 during the rebound, it seems to have the potential to hit 2400 again. However, the strength and amplitude of the rebound during this period were too fast, and there is no solid bullish foundation below.It's more like the market is deliberately pulling up, making the market more confusing. In addition, in the short-term structure, although gold touched the 2336 position many times and rebounded, it did not break through yesterday's high. The resistance in the 2350-2355 area showed strong resistance and built a double-top structure in the ultra-short-term structure. The short-term trend is still bearish.So in terms of trading, I'm still biased towards shorting gold. PPI data will be released later, which may be an opportunity to fall below the 2335-2330 area in the short-term structure.
I share detailed trading strategies and trading signals every day. You can follow the channel at the bottom of the article to get detailed trading signals and learn trading logic. People who are already in it have already made a lot of money. Let us enjoy the journey of making money together. !
Trade active:
Monthly PPI data is bearish for gold, and gold falls in response
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Gold rebounds again and gives opportunity to short gold again
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Continue to short gold above 50
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Continue to short gold
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At present, gold is still within the important resistance area. We wait patiently for gold to fall back.
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Do you think gold will fall again? I think that after gold failed to break through the 2355-2350 resistance area many times, gold will still fall in the short term.
Trade active:
Gold has fallen back below 2350 and will continue to fall
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