Although gold has been supported by the conflict in the geopolitical situation and market risk aversion has pushed up gold prices, it has never been able to touch the previous high near 2484, and even 2480 cannot be reached for the time being. Therefore, gold seems to be strong, but it is facing the resistance area of the previous high. , and it is difficult to cross easily. https://www.tradingview.com/x/WDLLyjv2/
Therefore, before gold breaks through the previous high, it is completely reasonable to fall back first to accumulate strength, which is more conducive to gold breakthrough. Therefore, I still don't recommend chasing gold directly at present. Regarding the risk of geopolitical situation, in order to avoid the outbreak of world war, I think all parties will effectively restrain themselves and the conflict will not escalate easily.
Therefore, in terms of trading, on the contrary, I still advocate shorting gold in the 2470-2475 area; if gold rebounds and touches the previous high area of 2480-2484, I will continue to increase my position to short gold, and then wait for a new round of gold decline. Only by walking ahead of most people can we eat more cake and make better profits.
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The strength of gold's rise is gradually weakening, which will help strengthen the short position
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Gold is very likely to retest 2440-2430
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The rising momentum of gold has further weakened, and gold may fall back at any time
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Guys, I am still holding short position in gold, waiting for profit to increase
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The US dollar continues to fall, but gold has not risen. When the US dollar stabilizes and rebounds, gold will start to fall. Be patient and hold a short position in gold
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Gold fell as expected and there should be another low point.
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