Dear friends, the current gold market is crazy. Today, gold is once again strongly approaching the 2220 integer mark. The market has a high sentiment of following the trend of long positions, but gold has not crossed this mark after all, and is currently stuck near the 2217 position. But behind the extreme madness is the correct logic of the market. Judging from the current trend, gold is undoubtedly a bullish trend, but after gold approached the 2220 position area, the price did not amplify further, and emotional buying was not particularly aggressive, so the appeal of gold at high levels was not particularly sufficient.the market remains rational.
On the other hand, the sharp rise in gold has made the deviation rate slightly larger, and gold has a certain need for repairs at the technical level; and if gold fails to challenge the previous high again, then gold profits may be eager to cash in and trigger a wave of gold selling. Gold is still likely to repeat the last round of gold decline.
So I think when the gold market is extremely crazy, we need to be more cautious in our transactions to avoid funds being trapped in high positions. Then we can divide the transaction into two parts. At the short-term level, you can wait for gold to fall back and go long on gold to seize the profits of small-level longs; at the same time, short gold on rallies in small batches at a relatively high position as possible to make mid- and long-term planning! I believe you will definitely reap profits beyond your expectations by then.
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If gold is unable to break through the previous high, then gold will correct again to accumulate momentum.
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Let’s first observe the breakthrough of gold at the previous high of 2223.
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If gold can close below 2200 today, then gold may pull back early next week
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I think we can use small batches to short gold appropriately in the 2223-2225 area
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When we choose to short gold, we must pay attention to small batch transactions
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At present, gold's bull momentum is gradually weakening, and it may need to fall back early next week to confirm support. This is our opportunity for short trading.
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Yes, gold was boosted by the news and broke through the 2230 position in one fell swoop. This is crazy.