Technical aspects：The pressure area of gold is concentrated in the range of 3250-3260. If the market remains weak and under pressure, it will be difficult for gold prices to break through this area. The key support around 3210-3200 should be focused on for gold to go down. If the gold price falls below the support of 3200, it may trigger a waterfall-like decline, and the expected support bottom is in the area of 3100-3050.
In terms of operation, you can wait for the opportunity to rebound and come under pressure after the position is broken, and take advantage of the trend to place short orders. It is important to remember that 3200 is like a key line of defense. Once it falls, it will trigger a chain selling.
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Gold has fallen sharply in the short term. If you have shorted at a high level, I believe you should have some profit now.Note
Gold fell below 3200, and our short position profit continued to increaseNote
If you often lose money or make little profit in trading, you can check out my profile, I hope it will be helpful to you.Note
Gold continues to fall sharply, and short positions are very strong. Don’t go long against the trend for the time being.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.