Gold will also fall back to the 2040-2030 area

Dear friends, today is Sunday, and tomorrow will usher in a new trading day. On Friday, gold took advantage of the influence of the geopolitical conflict situation and PPI data to rise to a maximum of around 2062, and even increased by a full $30 to around the market opening position of 2030. To be honest, this wave of gains was unexpected to me, and I did not expect such a big increase.

Although gold has risen, it does not mean that we can chase long gold. We can see from the 4-hour chart that after gold surged higher, it closed a long upper shadow line.This proves that this rise is to wipe out a batch of short positions first, and the short-term top faces resistance in the 2064-2066 area. It closed below 2050 on Friday, proving that the overall trend is still in a downward trend. So I think gold will fall back to the 2040-2030 area.

So in short-term trading, I think we should continue to short gold at high levels. I share detailed trading ideas and trading strategies every day. The gears of destiny are turning. I hope that with my help, we can all make continuous profits in the market! And you can follow the channel at the bottom of the article to get detailed trading signals, trading lots, and TP and SL.

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Tomorrow you can short gold around the 2060-2062 position

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Only after gold breaks through the 2063-2065 area will the room for growth open up, otherwise gold will fall back