XAUUSD(Gold)-Short order near 2493
Today's trend of gold fluctuating and weakening is completely expected. The next layout will continue to take high-level short selling as the main idea. Two consecutive large negative lines in 4 hours directly broke through the support level, and the moving average was strongly twisted downward to form a dead cross. The K-line was also strongly pressed on the floor. At the same time, the top K-line pattern is also an obvious bearish engulfing pattern, which is also a peak signal. The support of 2493 is switched to resistance. Gold has begun to weaken. Continue to short after the rebound of the US market.
The 1-hour moving average of gold has also begun to turn downward. This is what we have been mentioning in the past two days. When the 1-hour moving average begins to turn, we must pay attention to the fact that gold bulls are in place. If the 1-hour moving average continues to form a dead cross downward, then there is still a lot of room for gold shorts. The 1-hour downward trend resistance moves down to the 2493 line. The US market continues to short at highs below 2493. The upper side mainly focuses on the low point of the previous wave of 2493-2490. It has now fallen below and turned into the primary pressure level. The space below can be seen directly around 2470!
On the whole, today's short-term gold operation advice is mainly to go short on rebounds, supplemented by longs on callbacks. The top short-term focus will be on the 2490-2493 resistance range, and the bottom short-term focus will be on the 2470-2465 support range.
