After gold fell below 3202, it rebounded to 3198 at its highest. This rebound was just an oversold rebound, and then it continued to fall back. The pattern has weakened and it is difficult to rise again. Weak shorts can hardly get past 3198. The short-term support below is 3140/3150. Gold 1-hour still continues to cross downward short positions, and the strength of the shorts is still there. The rebound continues to give shorts opportunities. There is no obvious sustained upward momentum in the short term, and gold rebounds continue to be short. In terms of gold short-term operation ideas, it is recommended to short on rebounds and long on pullbacks. The short-term focus on the upper side is 3202-3205 resistance, and the short-term focus on the lower side is 3150-3155 support.
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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.