Gold Market Trend Analysis
Gold finally broke down after continuous shocks, and it broke the resistance point after falling below the 1719 position, ending the shocking situation and starting a downward trend! 1719 did not break or stand, break the position and turn down. I have repeatedly emphasised the importance of this position. The so-called horizontal is how long and how high is vertical. Gold maintains volatility for more than two weeks. Once broken, it is a waterfall-like trend. Break the position to continue the falling market, follow the trend decisively!
Previously, gold remained within the range of shocks, long and short, but since yesterday’s break of 1719, the market trend has changed, and you shouldn’t use old strategies to treat the current new trend. It is necessary to adjust the thinking in time and follow the trend! Today is a broken position and chooses to fall, rebound and take advantage of the trend, and the subsequent support position is the 1690 line!
Gold, which has been volatile for many days, broke out of the US market yesterday. The long-awaited trend signal has appeared. The daily line closed overcast and fell below the support of 1719 in the daily bar. The daily 5-day moving average and 10-day moving average continued to increase in volume. Gold enters a downward mode, so next week, gold will focus on 1719 and 1725 suppression, focusing on the daily mid-track 1725 as the suppression and taking advantage of the trend to fall back. The lower target is 1700/1690.
In today’s operation, we still focus on the high-altitude rebound. Today, gold focuses on the 1719 suppression position. After the previous support broke, the precious metal formed a resistance. Besides, the resistance position of the first rebound after yesterday’s sharp drop is also below this. The daytime relying on 1719 to suppress the rebound continues. Short, there is still a certain amount of support at the 1700 integer mark. It was also the last time that the callback was supported. However, the short-term support is challenging to change the impact of the short-term decline. It is expected that the short-term adjustment will continue to fall! Empty, the rebound below 1719 continues to be open!
European operation idea: gold near 1715 is negative, stop loss is 1720, the target is near 1700; if the rebound is unable to continue under pressure, stop loss is at 1715, and the position is directly negative near 1708, the target is broken at 1700, and the broken 1700 rebounds by 3 dollars to continue With nothing!