GOLD: Exhaustion of momentum, preparing to short

Yesterday X made it clear that the impact of news is only short-term, and once the momentum is exhausted, it will return to its original pace. As of now, this view is correct. The current market trajectory has begun to gradually recover, which will also be helpful for predicting future trends.

Since the market has gradually started to recover and entered its original running pace, the trajectory of the US dollar index will also be relatively easier to predict, as the overall direction is still bullish, while GOLD is mainly bearish.

On the operational front, gold has shown some pressure, but there is still a certain demand for upward probing in the market. Therefore, we consider taking a short position on rallies and suggest the following plan based on the market situation: seize opportunities to trade when the market offers them, and wait and observe when it does not.

We recommend shorting in the range of 1844-1845, setting a stop loss at $3, and targeting 1841, 1837, and 1832, respectively.

Furthermore, considering that today is the release day for initial jobless claims data, there are uncertainties.So pay attention to controlling positions.

XAUUSD1! GC1! GOLD1!

Trade active