Gold encounters resistance and falls, CPI will be the next key

Yesterday, our strategy of buying at a low level to see a rebound was correct, and the profit margin was also satisfactory. Then I also reminded that we should pay attention to 3260. If the rebound fails to break through this time, it will fall again. Now gold has fallen again after touching here, and it has come to around 3240.

Later, important CPI data will be released. The next trend of gold will focus on two points, the upper resistance of 3260-3270, and the lower support of 3200.

If it breaks through the range of 3260-3270, there is a high probability that it will fill the gap of yesterday's jump. Otherwise, if it fails to break through, it will test the support of 3200 downward. In comparison, I think the latter is more likely.

Once it falls below 3200, the downward space will be further expanded.