Gold downtrend continues unabated, maintaining the pace of breaking lows and declining further. Monday early session opened and traded lower, touching a low near 4420 before a modest rebound. Overall rebound strength remains weak, currently maintaining a weak bottom-probing pattern.
Medium-term trend remains bearish exploring lower, price action completely aligns with last week's bearish continuation forecast. Before clear bottom signals emerge, avoid blindly bottom-fishing and chasing rebounds. Although a technical retracement near 4360 is likely to be triggered, from a trend structure perspective, breaking below this support level is merely a matter of time.
Short in batches in the 4440-4480 range. On rebounds to 4500, 4520, add to short positions. Targets: 4300, 4250. #黄金 $XAUT #现货
3.23 Kan Xi Morning Market Analysis
Gold downtrend continues unabated, maintaining the pace of breaking lows and declining further. Monday early session opened and traded lower, touching a low near 4420 before a modest rebound. Overall rebound strength remains weak, currently maintaining a weak bottom-probing pattern.
Medium-term trend remains bearish exploring lower, price action completely aligns with last week's bearish continuation forecast. Before clear bottom signals emerge, avoid blindly bottom-fishing and chasing rebounds. Although a technical retracement near 4360 is likely to be triggered, from a trend structure perspective, breaking below this support level is merely a matter of time.
Short in batches in the 4440-4480 range. On rebounds to 4500, 4520, add to short positions. Targets: 4300, 4250. #黄金 $XAUT #现货