Technical analysis of gold: From the short-term market after the opening of this week, gold was under pressure at the 2330 US dollar line on Monday and fluctuated and repaired. The low point at midnight has retreated to around 2309. Although the retreat space is not large, the rhythm of continuous repair has already slapped the abnormal pull-up behavior last Friday. According to the current gold operation structure, the upper 21-day line and the middle track of the daily chart 2330-32 have evolved into short-term suppression, and the short-term weak intraday shocks. If it closes below the 5-day and 10-day lines 2316 again today, the daily K-line will be a short-side cannon with two negatives and one positive. This position is close to the 61.8% split position of the rebound of last Friday's gains; if it cannot hold here, then it may increase confidence in the bearish pattern in the future market, and it can continue to be bearish. If it can break through and stand on the middle track 2330 again, the bulls will also have the opportunity to test last week's high of 2341 or even higher, otherwise it will still be a weak and volatile market.
It is expected that the price will continue to decline after the adjustment, and several Fed officials are currently sticking to the expectation of only one rate cut this year, which is also bearish for gold. Therefore, the operation is still mainly short. You can refer to the 2328-2330 area to enter the short position and look at the 2300-2305 area. On the whole, the short-term operation strategy for gold today is to mainly short on rebounds and supplemented by long on pullbacks. The short-term focus on the upper resistance of 2328-2330 is the first line, and the short-term focus on the lower support of 2305-2300 is the first line.
There is no 100% correctness here, only a steady operation strategy. Large warehouses are for trends, small warehouses are for swings, and you control the proportion yourself. There is no investment that does not make money, only unsuccessful orders! Whether you make money depends on the timing of buying up and selling down. Making money depends on opportunities, investing depends on wisdom, and financial management depends on professionalism.