The current gold market is still fluctuating and consolidating below the middle track. It is expected that it will further drop to the 2300-2280 area after the correction is completed. The key pressure level above is at 2354. If the rebound breaks through 2354, the downward trend will end. Under this position, the idea of shorting at high levels remains unchanged.
The daily level closed with a real middle Yin line yesterday, continuing the Yin-Yang cycle, and the space has shrunk slightly. Although the gold price rose in the morning, the strength was not strong, the highs kept moving down, and the lows were constantly tested. In the short term, the upper resistance is 2342, which can be extended to 2350 after breaking through, and it is expected to see the 2360-2363 area after breaking through. There is still a possibility of falling and exploring lower today, with support below at 2314 and further support around 2309.
Overall, gold is still in a short trend, with heavy resistance above, and rebound is still an opportunity for shorting. The 4-hour moving average has a clear short arrangement, and gold has failed to stand firm on the moving average. After the highs and falls back, there is still room for decline below. The top short-term focus is on the 2342-2345 resistance range, and the bottom short-term focus is on the 2313-2309 support range.
The daily level closed with a real middle Yin line yesterday, continuing the Yin-Yang cycle, and the space has shrunk slightly. Although the gold price rose in the morning, the strength was not strong, the highs kept moving down, and the lows were constantly tested. In the short term, the upper resistance is 2342, which can be extended to 2350 after breaking through, and it is expected to see the 2360-2363 area after breaking through. There is still a possibility of falling and exploring lower today, with support below at 2314 and further support around 2309.
Overall, gold is still in a short trend, with heavy resistance above, and rebound is still an opportunity for shorting. The 4-hour moving average has a clear short arrangement, and gold has failed to stand firm on the moving average. After the highs and falls back, there is still room for decline below. The top short-term focus is on the 2342-2345 resistance range, and the bottom short-term focus is on the 2313-2309 support range.