Gold, beware of a high-rise fall

Gold maintained a shock-washing mode yesterday, but eventually pulled up again to around 2930. In yesterday's article, the emphasis was on the idea of ​​going long. Yesterday, we saw gold fall in the morning and evening, both suggesting going long. No matter how the market moves, no matter how the main force washes, direction is above all else, and the point determines the outcome. In a shock market, although it is bullish, once it enters the middle position, it will be extremely passive, so it is necessary to get stuck and be patient.

At present, from the technical trend, this wave of rise has been under pressure near 2930, and the short-term upward momentum is insufficient. The short-term maintains a high-level shock operation. Although it broke a new high yesterday, the momentum was obviously insufficient. After being under pressure near 2930, it fell again. It is not recommended to continue chasing highs in the short term. According to the current trend, there is a high probability of shocks around a high-level large range. Even if it does not break through, the short-term is just a callback again, and the possibility of a sharp drop is not great. The gold price will continue to shock in a high-level large range, and the medium-term trend is still bullish.

Operation plan, the long positions last night are still held after reducing positions. Today, focus on whether it will break through 2930 again. If it still cannot break through 2930 to create a new high, all long positions need to be exited. If it breaks through 2930 again, it is not recommended to chase high. The strong pressure area above is concentrated in the 2930-2945 area, and the possibility of a sharp rise in the short term is not great. In the short term, once the pressure area is touched and a short signal appears, the short-term intraday short-term can wait for the opportunity to go short and see the support area below the retracement is concentrated in the 2900-2890 area. At the same time, this area is the area where pressure turns to support after the breakthrough. Therefore, to do more, you also have to wait for the retracement to this area again before there is room for operation. Since it has been characterized as a volatile market, do not chase the rise and sell the fall, and wait patiently for the operation position.