XAUUSD: Once again in the resistance range, decisively sell
Gold rebounded strongly yesterday and continued to rise despite multiple negative data, which was beyond everyone's expectations. But the rebound is always just a rebound. Before breaking through the resistance area of 2332-2342, it is just a rebound, not a reversal.
Looking back at the market trend this month, it basically fluctuated widely around the support of 2290-2300 and the pressure of 2332-2342. Before there is a big impact or external intervention, this oscillation will not change for the time being.
It rebounded strongly yesterday, but it stopped rising near the resistance of 2332 and then fell back. Now that the gold price has come here again, I think it would be a good choice to choose this area to sell again.
Looking back at the market trend this month, it basically fluctuated widely around the support of 2290-2300 and the pressure of 2332-2342. Before there is a big impact or external intervention, this oscillation will not change for the time being.
It rebounded strongly yesterday, but it stopped rising near the resistance of 2332 and then fell back. Now that the gold price has come here again, I think it would be a good choice to choose this area to sell again.
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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.