Short-term-king

Will gold reverse on the way down?

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Short-term-king Updated   
OANDA:XAUUSD   Gold Spot / U.S. Dollar
Will gold continue to fall to 1950 next?

First of all, what I want to explain is that gold as a whole is still weak, but it cannot be directly shorted in trading.

The reasons are as follows:

From the continuous closing of the lower hatching line at 1970 in the recent trading days, it can be seen that gold is currently receiving technical support at 1970, so gold may take this weak rebound.

So which areas are mainly observed above?

1.First observe the 1988-1992 area
2.Secondly, observe the 2000-2004 area

If these two regions can recover quickly in the short term, then gold may reverse its decline and there is a possibility of challenging the previous high again.It is also worth noting that don't just pay attention to integer thresholds and avoid the pitfalls of technical false breakthroughs.

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Gold is in the midst of a weak rebound in the short term, but judging from the current structure, it is in a correction market after a sharp drop, which does not mean that the market is reversed.
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