Gold fluctuates at a low level, shorting needs to wait

Gold rebounded weakly today. The bottoming trend was started in advance at the 1939 line. The current lowest point is 1931 and has not fallen below yesterday's low point, indicating that there is an undertaking here. Therefore, if the previous low is not broken at night, the bulls may start a rebound trend, and then the expected short-selling opportunities will appear.

Gold operation recommends selling at 1941.50, stop loss at 1945, target 1931~1926.

Gold bulls went up yesterday without continuity, and short sellers took advantage of the vacancy and fell again. The K-line trend means that it is bearish today.

There were three waves of adjustments in the downward trend starting from 2081, and the bull counterattack began to appear in 1924. There are two structures in the later period: 1. The three waves of adjustment merged into a large-scale wave A, which began to rebound in wave B from 1924; 2. The adjustment from 2081 to 1924 was only a mid-way correction of 5 waves and 3 rises, and in the later stage, it may test the previous high or even break through. The difference between the two lies in the height of the bullish rally. If it falls below the previous low of 1925, it means that the previous big A wave downward has not yet ended.

The pressure in the day is 1941~1945, and the support is 1930~1926.

If traders agree with the idea, they can leave a message below MGC1! GOLD1! XAUUSD1! GC1!

Trade active:

Gold fell as expected, my analysis was not wrong