Short above 1985, TP1960, 1935, SL1995
Comment:
Chairman Powell hinted at the end of the interest rate hike cycle, and yesterday gold surged strongly by $30 to around $1,978, completing a short-term reversal. Will gold continue to rise? Although the end of the interest rate hike cycle stimulated gold's rise, considering it from a different angle, the risks of a banking crisis and economic recession caused by the interest rate hike will correspondingly decrease, so the safe-haven sentiment that supported the recent rise in gold will slowly fade away. From a technical perspective, after a strong rise to $2,009 on Monday, gold fell more than $70 for two consecutive days. If the pattern is really strong, the magnitude of this wave of decline would not be so strong, and there is also a divergence signal on the daily chart. Therefore, the probability of gold's further decline increases.
Comment:
The 1-hour head-and-shoulders top structure of gold has now rebounded to this position, and the structure has not been damaged. If it does not go up for 4 hours, it will be a double top, so the rebound should continue to be short. The 1-hour moving average is still running in a dead cross, and the MACD is about to form a dead cross. , European and American markets rebounded in 1985 and continued to be short.
The 1-hour head-and-shoulders top structure of gold has now rebounded to this position, and the structure has not been damaged. If it does not go up for 4 hours, it will be a double top, so the rebound should continue to be short. The 1-hour moving average is still running in a dead cross, and the MACD is about to form a dead cross. , European and American markets rebounded in 1985 and continued to be short.
Trade active:
Prepare to short in 1985
Trade active:
The current price of gold is above 1985, sell
Trade active:
Continue to add empty orders
