Short-term-king

Where will gold stop the decline?

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Short-term-king Updated   
OANDA:XAUUSD   Gold Spot / U.S. Dollar
After the emergence of the mid-negative K-line, gold rebounded yesterday, but it did not recover the 2015 area, indicating that it is still a repaired market.Judging from the current trend of gold, after the continuous rise and fall of gold on the hourly level, the technical pattern has begun to weaken. There may still be some room for adjustment in the short-term trend, but the bottom still needs to pay attention to the gains and losses of the 1980 position. If 1980 does not break, gold may still fluctuate repeatedly; if it falls below the 1980 position, the space below will be further opened.

Judging from the current gold trend, the intraday trend is still biased towards the correction trend after the decline, and there is still an expectation of continued decline after the correction.Therefore, there are still bearish expectations after the recovery of gold.

In the short term: pay attention to the resistance of 2010 above, and observe the defense of 1980 below.

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Comment:
Comment:
Gold rebounded to the first line of 1995 and began to fall back, but did not recover to above 2000, proving that the recovery of gold is still repairing the market, and gold is still weak for now.
Comment:
Now first observe the strength of gold's rebound to see if gold can recover above 2000
Comment:
At present, gold is running below 2000, so it is not advisable to chase short transactions.
Comment:
Don't look at gold as if it can't rise at the moment, because after gold rebounded, there must be many retail investors shorting in this position, so before gold continues to fall, it will definitely rise first, and after this part of the short-selling chips are wiped out, gold will fall again.So let's not short gold now
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