Gold continues to fall in the short term

Interpretation of the news: Iran's low-key handling of the attack in Isfahan seems to be aimed at avoiding an escalation of the regional situation. Federal Reserve Chairman Jerome Powell and many other policymakers were tight-lipped last week on when they might cut interest rates . Instead, they said monetary policy needs to remain restrictive for longer, pouring cold water on hopes of a sharp rate cut this year. The market is awaiting U.S. March personal consumption expenditures (PCE) data due out this week to further determine the trajectory of monetary policy. The data is the Fed's favored measure of inflation.

From the 2-hour chart, the 20-day moving average and the 50-day moving average form a dead cross pattern. In addition, the MACD value continues to hit new lows below the axis. Therefore, the current downward trend is obvious and the decline is very strong. The general trading strategy is to sell at resistance levels.

Next, focus on the 2334-2344 range. If the price rebounds to this range, you can sell.The expected take-profit price below is in the range of 2275-2285.

I will update the specific strategies at any time in my gold trading guidance group

Comment:

At present, gold has begun to rebound and rise. You can sell it when the price reaches the resistance range of 2334-2344.

Comment:

The price currently encounters resistance near 2330 and will continue its downward trend.