Gold Sell after rebound @2580-2585

The current trend of gold is in line with expectations. The price of gold has fallen back after rising and is currently below 2600. The daily line closed lower on four consecutive negative lines, and the decline continued and gradually deepened, showing a weak short-term pattern in the short term. Yesterday, gold rebounded to 2618 and then fell back under pressure, maintaining a downward trend. As long as the rebound does not break the previous high, the downward trend of the channel remains unchanged. The daily chart closes a negative line pattern with a long upper shadow, indicating strong downward pressure. It is expected that gold prices will continue to fall today. The rebound is still an opportunity for short selling, and the short trend has not yet reversed.

The 4-hour chart shows that the second wave of decline starting from 2710 continues, and the short-term decline has a significant step structure. Yesterday's high of 2618 failed to break through, and then continued to fluctuate lower. Taking yesterday's low of 2589 as the counter-pressure level, the short-term weakness continues, and we need to pay attention to the sustainability of the downward break.

The moving average dead crosses on the 1-hour chart are scattered, and the decline is not over yet. The lows of 2589 and 2590 have formed counter-pressure levels. If it rebounds to above 2589 or 2580 in early trading, you can continue to short. It is expected that the Asian market will be weak, or it will test lower first, and it may rebound before the US market and then go down again. In terms of operation, the Asian market is suitable for placing short orders on highs, while the European market is suitable for secondary short selling at high prices, and pay attention to rebound opportunities after hitting new lows.

🎯Strategy 1: Gold Sell 2580-2585, SL 6-8$, TP 2565-2555, Breaking position looks to 2546 line✅

🎯Strategy 2: Gold Buy 2548-2550 , SL 6-8$, TP 2560-2570, Breaking position looks to 2580 line✅