Gold breaks new low, goes short after rebounding

Gold's 4-hour moving average crosses downwards in a short position, and gold's downward space opens up. Gold's 4-hour double top continues to suppress gold's rise. Gold fell below the last new low of 2292, and gold has resistance at the 2300 mark. If it rebounds to around 2295, it can be shorted first.

Trading strategy: short gold 2295, stop loss 2305, target 2280-2275


The above is purely a personal opinion sharing and does not constitute operational advice. Investments are risky and you are responsible for your profits and losses.

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The daily level of gold is obviously bearish engulfment. The two negative lines directly dropped a step and returned directly to below 2300. The moving average also curved downward obviously, and the K line was suppressed by the moving average.

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Gold can continue to be short after it rebounds

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Gold short orders are making profits

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Gold's 4-hour double top structure broke and continued to suppress gold's rise. Gold's 4-hour moving average is still arranged in a dead cross and the opening gradually widens. Gold now pays attention to the resistance of the 2300 mark and continues to be bearish under pressure.

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You can choose to short gold near 2300

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At 2:00 on Thursday, the Federal Reserve will announce its interest rate decision. The market expects the Federal Open Market Committee (FOMC) to maintain interest rates in a range of 5.25% to 5.5%. Because strong economic data in the United States shows that inflation remains sticky and the slowdown in GDP growth in the first quarter may make the Fed remain cautious.

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