Is there room for gold to continue to fall?

Although the weakening of the U.S. dollar has provided support for gold prices to a certain extent, because the dust has settled on the acquisition of Silicon Valley Bank assets by First Citizen Bank, European and American bank stocks have risen sharply, suppressing the market's risk-averse demand for gold. Investors have scaled back safe-haven trading and turned to riskier assets. U.S. bond yields and U.S. stocks have risen, and gold is under further selling pressure.Judging from the recent trading days, the gold price has repeatedly surged above the 2000 mark and then fell back. The morale of the bulls has been obviously frustrated. Investors need to beware of the possibility of gold price shocks reaching the top.

Judging from the recent trend of gold, the high point began to show signs of M-head regression, and the short-term pressure fell back, and the continuous touch of the high point failed to continue, becoming a short-term high pressure zone.Although the upper side is under pressure, it is difficult to reverse the trend and become a unilateral downward market in a short period of time. Here, a range-oscillating market may be constructed.For the intraday market, pay attention to the suppression of the upward rebound in the short term. If the yellow metal is under pressure and stagnates, you can go short at a high level and continue to look down.

In the short-term operation, the rebound can pay attention to the pressure on the first line of 1973-1974, and the support can first look at the recent low of 1935.

Short-term trading reference: sell gold at the 1969-1970 position, stop loss level 1974, take profit level 1960-1955

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Trading orders that sell gold around 1969-1970 can continue to be held

Trade active:

Although today's gold selling order around 1969-1970 has stopped loss around 1974, our crude oil selling order around 73.8 has successfully reached the profit target around 73 and achieved huge gains. One profit and one loss, the overall profit margin is still a little bit

Comment:

Is your gold and crude oil trading profitable?