Gold Sell Target at 2580-2550

12 nov 2024

🔶Gold bulls are currently lacking in momentum, and the price has fallen below a new low again, with an obvious bearish trend. The 4-hour chart shows that the moving average system maintains a dead cross and diverges downward, indicating that the bearish force continues to increase, suggesting that the downward trend of gold has not yet ended.

🔶From a technical point of view, the short-term top of gold has been basically established, and the future operation should focus on shorting at highs. The current gold price has once again fallen below the key support level of 2600, the bearish momentum is strong, and the space below is further opened. It is recommended to go short when the price rebounds to around 2605-2608, and the target at 2580-2550.

🔴Short-term upper resistance range @ 2605-2610
🟢Short-term lower support range @ 2555-2550

12 nov 2024

Trade attivo

GOLD SELL @ 2603-2608

⛔️SL 2612

🎯TP 2585

12 nov 2024

Trade chiuso: obiettivo raggiunto

At present, the rebound of gold to the 2605-2610 range is temporarily blocked, but the game between long and short forces is very fierce. If the bulls effectively break through 2610, it can be seen to 2620-2630. If the breakthrough fails, it will continue to fall to 2590-2580