XAUUSD: Wide range of shocks, high selling and low buying
Gold finally chose to pull back when it encountered resistance on Friday, and it was a straight-line pullback! However, the overall pattern of gold has not changed. Relying on the support of 1940 today, it is more bullish, and the pressure from above is still focused on the 1980 line!
In terms of trend, gold started to fall from 2080 to 1930, and the decline structure has been completed, which means that this decline has ended! Previously, we were not sure whether gold would go directly to reverse and rise or maintain a large range of shocks at the bottom. The key pressure above is 1980!
The market did not break through 1980 on Friday, but fell back directly. Now the trend is clear. Gold will build a large bottom consolidation area in the 1930-1980 range, and it will be a wide range of shocks!
It is normal for the market to fluctuate, to rise sharply in one day, and to fall sharply in one day, so we will not fall because of the sharp drop in the market on Friday. On the contrary, today we rely on the support of 1940 to be more bullish. Will bounce back to the 1980 line again! Go back and forth in the interval until a new direction appears! So for the next period of time, treat it with the oscillating thinking of selling high and buying low!
In terms of trend, gold started to fall from 2080 to 1930, and the decline structure has been completed, which means that this decline has ended! Previously, we were not sure whether gold would go directly to reverse and rise or maintain a large range of shocks at the bottom. The key pressure above is 1980!
The market did not break through 1980 on Friday, but fell back directly. Now the trend is clear. Gold will build a large bottom consolidation area in the 1930-1980 range, and it will be a wide range of shocks!
It is normal for the market to fluctuate, to rise sharply in one day, and to fall sharply in one day, so we will not fall because of the sharp drop in the market on Friday. On the contrary, today we rely on the support of 1940 to be more bullish. Will bounce back to the 1980 line again! Go back and forth in the interval until a new direction appears! So for the next period of time, treat it with the oscillating thinking of selling high and buying low!
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