Gold enters the adjustment phase, rebound and then shortGold has broken below its rising trend line, entering a correction phase. After breaking below 4000 points, it has experienced a waterfall-like decline, forming a double top.
Our short positions entered below 4050 have all yielded good returns, in line with our recent short-selling expectations. The main reason for tonight's sharp drop is profit-taking at high levels, coupled with the easing of Middle East relations. Since gold has fallen below 4000 points, a continued downward correction to test 3900 is highly likely in the short term.
Operation strategy: Continue to enter short positions at 3977 (the position of the previous rising top and bottom conversion), target 3944.
Resistance levels: 3977, 3986, 4000
Support levels: 3944, 3930, 3900
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