How to grasp the long-short conversion of gold?

Gold fell at the high point of 2955 yesterday, and the decline was extended in the evening, breaking through the 2900 mark, reaching a low of 2888. It bottomed out and rebounded in the early morning, and the price returned to above 2900.

For the definition of trend, we must first consider continuity. There is a trend only if there is continuity. If there is no continuation, it is a shock. Yesterday's decline was just a short-term short-term move. Yesterday's decline was just a short-term move. The change of trend does not happen overnight. One trading day cannot explain anything. Moreover, there were consecutive positive rebounds in the early morning, which shows that the downward trend is not weak.

In addition, gold has not fallen below the rising trend line, and the lower track support of the previous upward channel is still there. Therefore, we cannot say that the gold trend has turned bearish. It can only be regarded as a bullish correction. It’s just that the price is high and the time of rising is long, so the retracement range becomes larger.

The rebound continued at the opening this morning, and after a wave of surges and falls, the price just touched the 2930 first-line pressure. During the day, we will first go long around the 2905 first-line support. If the 2930 level is broken, we still need to see the bulls continue, and there will be a second rise. If it is suppressed below 2930 and fluctuates sideways without rising, we will be bearish at night and see a second low of 2888.