Gold broke below 3200 and continued to fall. 3435 fell back to 3201. The two did not break and one did not hold. The wave division is being re-performed. The current market is still in the ABC adjustment trend from 3500 downward. Wave A is 3500-3201, and wave B is 3201-3435. The current market is in the C wave push from 3435 downward. The end of wave C opens a new round of rising waves. The upper resistance at 3198-3200 is too far away and has not been given. This also shows that the market is too weak. It can only be stuck at the 0.236 division level of 3188. Continue to short before the European session. If the European session does not break the bottom, then don't short the US session for the second time. It is easy to bottom out and rebound and fluctuate.
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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.