Short

The president's words instantly changed the gold market

📌 Driving events
Today, Wednesday, Trump said that although he was frustrated that the Federal Reserve had not been able to lower interest rates faster, he had no intention of firing Federal Reserve Chairman Powell.

The remarks marked a huge shift in Trump's attitude. He has recently stepped up his criticism of Powell and refused to rule out the possibility of taking the unprecedented step of firing Powell.

After Trump said he had no intention of firing Powell, the situation between Russia and Ukraine slowed down, and the market's optimism about the possible easing of trade tensions heated up, U.S. stock index futures soared and the dollar strengthened.

Asian spot gold opened directly at a gap down on Wednesday, and then the decline widened further, reaching a low of $3,293. It is only $10 away from the 3,283 support line I predicted before.

📊Comment analysis

Gold has some signs of a head and shoulders top, and the current shoulder position is almost here at 3,340-50.
So, if there is a chance to pull back to 3,340-50 next. The support line is still around 3282.
Be sure to enter the market and short without hesitation.
💰Strategy Package

Short position:

Actively participate at 3350 points, profit target is around 3290 points

⭐️ Note: Labaron hopes that traders can properly manage their funds

- Choose the number of lots that matches your funds

- Profit is 4-7% of the capital account

- Stop loss is 1-3% of the capital account

Labaron

"The Golden Key to Financial Freedom" welcome to join the free channel
t.me/+alDpuIRD9vU4MWQx

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Labaron

"The Golden Key to Financial Freedom" welcome to join the free channel
t.me/+alDpuIRD9vU4MWQx

Also on: