Gold dips and pulls back

The trend of gold was significantly under pressure yesterday, with the price falling sharply from the 2650 line, breaking the key support level of 2620 during the session, reaching the lowest level of 2583, and then stopped falling and rebounded. The price is currently running below the 2620 line, showing a certain pressure.
From a technical analysis, the downward channel at the hourly level has been broken through, and at the same time, an obvious V-shaped reversal structure has formed below. In the short term, the 2620-2625 area has become a key conversion range for the long-short power game. Overall, gold's upward trend line has been initially broken, and the short-term rebound has been blocked twice, indicating that the upward momentum has significantly weakened.
Combining trend characteristics and market sentiment, the current operating ideas are mainly rebound short selling, paying attention to the performance of price in key resistance and support areas. The short-term upper resistance is focused on the 2625-2630 area. If it breaks through, it may open up further upward space; while the lower support is around 2605 and 2585. If it falls below, the downward trend may continue.
Investors need to focus on the breakthroughs and retracements of the above-mentioned key prices, and look for better trading opportunities based on trend judgment to improve the success rate of operations.