Gold Bearish Trend

Last week, the price of gold reached 2004 after the release of US non-farm data. Then it fell back and closed the market at 1993. In the previous post, I talked about the need for the expected value of non-farm data to reach 180,000 to stabilize the US market and suppress gold price, but the final figure was 150,000, which caused gold to rise and then fall back bearishly.

The short-term 1H chart of gold has a clear bearish tendency, with a target of 1972.
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Trade active

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Trade active

Trade closed: target reached:

1972

Comment:

1970-1965 go long