Gold still has potential to fall back to 2020-2015 zone
Dear friends, after hitting near the 2019 position, gold then rebounded and is currently trading near the 2029 position. Has gold stopped falling, stabilized, and started rising again?
In fact, compared to the current gold, before gold breaks through the 2040-2045 range, gold as a whole is still in a short pattern. Only when gold rises and breaks through the 2040-2045 range, will gold completely get rid of the short pattern. For the short-term level, the short-term level of gold is currently suppressed by the intraday high in the 2030-2032 range, so gold is relatively weak during the rebound. In addition, from the perspective of the US dollar, the US dollar index is supported by the 103.15-103 area, which limits the room for the US dollar to fall and also puts certain pressure on the gold market. Therefore, after gold rebounds, it still has the potential to fall back to the 2020-2015 area.
Therefore, in short-term trading, we cannot see that gold has risen for the time being, so we start to chase gold in large quantities. At present, gold has rebounded to near the 2029 position and faces short-term resistance in the 2030-2032 area, so I think we can continue to short gold around the 2028-2030 area. I share detailed trading ideas and trading strategies every day. The gears of destiny are turning. I hope that with my help, we can all make continuous profits in the market! And you can follow the channel at the bottom of the article to get detailed trading signals, trading lots, and TP and SL.
In fact, compared to the current gold, before gold breaks through the 2040-2045 range, gold as a whole is still in a short pattern. Only when gold rises and breaks through the 2040-2045 range, will gold completely get rid of the short pattern. For the short-term level, the short-term level of gold is currently suppressed by the intraday high in the 2030-2032 range, so gold is relatively weak during the rebound. In addition, from the perspective of the US dollar, the US dollar index is supported by the 103.15-103 area, which limits the room for the US dollar to fall and also puts certain pressure on the gold market. Therefore, after gold rebounds, it still has the potential to fall back to the 2020-2015 area.
Therefore, in short-term trading, we cannot see that gold has risen for the time being, so we start to chase gold in large quantities. At present, gold has rebounded to near the 2029 position and faces short-term resistance in the 2030-2032 area, so I think we can continue to short gold around the 2028-2030 area. I share detailed trading ideas and trading strategies every day. The gears of destiny are turning. I hope that with my help, we can all make continuous profits in the market! And you can follow the channel at the bottom of the article to get detailed trading signals, trading lots, and TP and SL.
Trade active:
TP:2021
Trade active:
Gold hit its lowest level near the 2017 position and fell back to the 2020-2015 area as expected.
Trade active:
Gold rebounded again to near the 2025 position, and the opportunity to short gold came again.
