Has gold stopped its decline and is it about to rebound?
After the news was suddenly bearish last Friday, the market bulls initiated a multiples sell-off. On the one hand, it was due to technical overbought and divergence reasons, on the other hand, it was because of market sentiment taking the opportunity to hype.
Judging from the current trend of gold, the intraday trend is still biased towards the correction trend after the decline. After the correction, there is still an expectation of continued decline, because the technical daily divergence has just been released, and the probability of the market continuing to decline in the later period has also increased.Therefore, in the short term, we need to pay attention to the strength of the rebound and the expectation of the second downward trend.In the short term, gold can first observe the defensive situation of the 20-day line. This position has also become a short-term reference point. If the 20-day line is lost, it may be possible to retreat below the intersection of the two trend lines in the early stage near 1970.
From an intraday perspective, the current downward trend is stopped and there is a weak rebound trend, but it does not mean a change of direction. Therefore, the short-term structure is still a weak link after the sharp drop, and there is still a possibility of a sustained decline under the pressure of the intraday rebound.
I will share specific transactions and operations in real time on my channel based on intraday details.In order to facilitate everyone to continue to follow up on my analysis and sharing, you can like and follow me; in addition, I will share the daily real-time strategy in the channel. If you can't follow up in real time, you may make operational errors.You can use the following methods to enter my channel for free to follow the latest news and follow up on market trends in real time.
Judging from the current trend of gold, the intraday trend is still biased towards the correction trend after the decline. After the correction, there is still an expectation of continued decline, because the technical daily divergence has just been released, and the probability of the market continuing to decline in the later period has also increased.Therefore, in the short term, we need to pay attention to the strength of the rebound and the expectation of the second downward trend.In the short term, gold can first observe the defensive situation of the 20-day line. This position has also become a short-term reference point. If the 20-day line is lost, it may be possible to retreat below the intersection of the two trend lines in the early stage near 1970.
I will share specific transactions and operations in real time on my channel based on intraday details.In order to facilitate everyone to continue to follow up on my analysis and sharing, you can like and follow me; in addition, I will share the daily real-time strategy in the channel. If you can't follow up in real time, you may make operational errors.You can use the following methods to enter my channel for free to follow the latest news and follow up on market trends in real time.
Comment:
Gold fell as scheduled in the short term
Comment:
Gold is currently in a weak rebound. I have already given a sell limit order in the group. After you set it up, you can rest at ease. I hope we will get a good result tomorrow.