It’s the right time to short📌Fundamentals:
This week, the Federal Reserve will hold a rate decision, which is expected to dominate the market this week. In addition, we need to continue to pay attention to news related to the international trade situation.
📊Technical aspects:
The 1-hour moving average begins to turn, so the unilateral decline of gold has temporarily come to an end. However, the rise of gold has reached the key resistance area in the early stage, which is the starting point of the early stage of 3330. It is obviously not appropriate to chase more at this position, so the short-term may begin to adjust, and gold will go short at 3325 first. The market is changing rapidly. If gold breaks upward without stepping back, there will be no opportunity to go long. Then there is no need to chase more gold. Go short first and look at the decline and adjustment. On the whole, the short-term operation strategy of gold today is to go short on rebounds and go long on pullbacks. The short-term focus on the upper resistance of 3328-3330, and the support on the lower side is 3280-3293.
🎯Practical strategy:
Short gold when it rebounds to around 3325-3328, target around 3300-3280.
Buy gold when it falls back to 3280-3295, target around 3325-30.
