Bearish trend, the lower target is around 2600

Nov 12

Gold daily line fell below a new low again. After a short rebound was blocked, it began to fall. After a short correction, it was ready to break the low again to open the falling wave, and at the same time pulled the indicator to turn downward. The short-term market is expected to repair the rise, and the trading strategy is to maintain the rebound short position.

Gold 4-hour moving average continues to cross the downward short position arrangement. The decline of gold is far from over. After gold fell below the last low of 2643, gold now 2643 has become a resistance to suppress gold's rise. Gold continues to be sold below 2643 in the Asian session. Gold rebounds near 2640 and can be sold.

First support: 2603, second support: 2592, third support: 2578

First resistance: 2633, second resistance: 2642, third resistance: 2658

Trading strategy:
BUY:2602-2604
SELL:2640-2642

Nov 12

Trade active

It tested 2590 twice and is currently rebounding steadily, but the rebound came late; the NY market continues to see rebound adjustments, and today's decline is basically over; the current support is 2600/01.