XAUUSD: Gold’s rebound is not a reversal, continue selling

Gold made a strong counterattack yesterday, and it seemed that the market was about to reverse. The market did not continue to rise in the evening. Gold shot up at 2331 and fell back. The strength of the rise was limited. The gold rebound was not a reversal. The current price in early trading was 2327 and continued to be short!

Gold's rebound yesterday did not break through yesterday morning's starting and falling levels. It said that it was a deep V reversal, and the strength was slightly lacking. Gold's 1-hour moving average continued to be in a dead cross and short position, and the opening has not contracted, but continued to widen, indicating that the decline is still strong. of. Gold's 1-hour moving average resistance is now at 2332, and the high point of yesterday's second rebound in the US market was at 2331. As long as the resistance is not broken today, the rallies around 2330 will provide an opportunity to go short.

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