Continue to short gold, bears will exert force againAffected by the NFP market, gold fell precipitously, almost giving back 50% of the gains in the previous wave, and the short-selling performance was particularly strong; technically, gold successfully built a double-top structural resistance in the 3365-3363 area in the short term, which played a technical suppression role in the short term. As gold fell, the current short-term resistance moved down to the 3340-3350 area;
On the other hand, although gold began to rebound after falling to around 3312, it clearly showed the characteristics of weak rebound, and it did not even stand above 3340 once, and the long forces were insufficient; and technically, a single lower shadow line was not enough to support the continued rebound of gold, so gold still had the need to retrace the support below from a technical perspective; and once gold fell again, it was very likely to test the 3305-3295 area again.
So I think we can take advantage of the rebound of gold to short gold again. We can still short gold with the 3340-3350 area as resistance and look at the target area: 3315-3305-3295.
