How long can the gold shorts last?

14 พ.ย.

Since the current market is dominated by shorts and there is no clear signal to stop the decline, the gold price is still facing downward pressure. Therefore, in the short term, we should maintain a high-altitude mindset and sell short on rebounds. At the same time, we can try short-term long orders at appropriate low levels, but be cautious.
The daily chart shows a short arrangement, and the upward channel has been broken, and the price trend is still bearish. It is recommended to pay close attention to the closing of the daily line. If the daily line continues to maintain a negative line, the short trend will be more obvious, and the short-selling strategy should still be maintained.
During the adjustment process of the 4-hour and 1-hour lines, the gold price failed to rebound continuously, and the callback pressure was relatively large. Judging from the low point of the 1-hour line, if the price fails to break through the key rebound point, the short pressure is still strong.
Key position: 2595-2605 area
When the gold price rebounds to the 2595-2605 area, this area may encounter strong short pressure. If the price tests this range and a reversal signal appears, you can consider shorting.
Target support level below: 2550, 2533, 2487
The short position target is set at the support level below, especially at 2533 and 2487. If the price continues to weaken, it may fall further.
If the gold price shows a stabilization signal during the decline and rebounds to around 2560, you can try to arrange short-term long positions. At this time, the upper resistance level is still in the range of 2574, 2585, and 2592. If the rebound fails to break through these resistances, it may fall again.
Target: 2574, 2585, 2592
These target levels can be used as exit points for short-term long positions, especially when the rebound is weak, to lock in profits in time.
Given the volatility of the market, especially when the price approaches key support or pressure levels, stop loss is very important. For example, when shorting, a stop loss can be set near the 2595-2605 area to prevent the risk of a strong rebound. For low long positions, you should also pay attention to timely stop profit if the price fails to break through the predetermined target level.
In the short term, the trend of gold prices is still weak, and the situation dominated by short sellers has not changed fundamentally. For short-term operations, short orders can be arranged through rebounds. The key resistance level is in the 2595-2605 area. At the same time, low longs can be tried at appropriate positions. It should be noted that there is no obvious sign of stopping the decline in the current market, so when operating, it is necessary to avoid blindly guessing the bottom and respond flexibly to market changes.

14 พ.ย.

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After falling, gold rebounded in the short term and the current resistance level is around 2565. If the price breaks through this level and continues to recover during the US trading session, it may continue to test the 2580-2595 area. There may be a certain recovery rebound during this period, but considering the pressure from above, the sustainability of the rebound may be limited.
If gold breaks through 2565 and enters the US trading session, consider gradually laying out short orders during the rebound process, especially when the price approaches the 2580-2595 area. If the price is blocked in this range and fails to continue to break through, you can appropriately increase the short position, with the target looking at the support level of 2533 or lower.

14 พ.ย.

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Gold has recovered and rebounded from its short-term lows, and we will pay attention to the pressure in the 2595-2576 area above in the future.
If this wave goes up and falls under pressure. The gold price will fall again as expected, and then test 2533 below.