Gold is under short-term pressure and may usher in a wave of adj

2 Mar 2023

Gold continued to rise yesterday, and it is now approaching the high point area of the previous platform. If it cannot break through quickly here, it will fall into the consolidation stage again in the short term. Therefore, today we mainly look at the trend of shocks and pullbacks from high levels. For gold operation, it is recommended to sell at 1840, risk control at 1844, and the target is 1830~1825. If it does not rebound, it will fall directly to around 1829, and do a long short-term.

Gold sees adjustments for several reasons:
1. Gold has entered the pressure zone formed by the golden section of the previous high point, and there may be a downward trend if it is under pressure.
2. The intraday pressure is 1844~1847, and the support is 1830~1825.

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GC1!