Monday Review by Chen Jie
On Monday, the market saw a wide-ranging corrective shakeout after its sharp drop. In the morning, it tested 3978 and held above Friday’s low of 3975, triggering a short-term rebound. This perfectly confirmed Chen Jie’s morning forecast: with the price near the lower band at 3997, it was unwise to chase shorts, and traders should beware of a short-term rebound and shakeout.
Throughout the day, the market repeatedly contested the daily top-bottom reversal level at 4016. During both the daytime and evening sessions, it touched the 4010–4020 short-entry zone Chen Jie had identified several times. In the late session, it briefly broke below 4026 but failed to hold there, then plunged nearly 30 points—delivering two short-selling opportunities. The rebound and shakeout did not change the weak market outlook. By firmly targeting the overlapping resistance zone and trading with the trend, the day’s rhythm remained entirely under control. #xau $XAU
On Monday, the market saw a wide-ranging corrective shakeout after its sharp drop. In the morning, it tested 3978 and held above Friday’s low of 3975, triggering a short-term rebound. This perfectly confirmed Chen Jie’s morning forecast: with the price near the lower band at 3997, it was unwise to chase shorts, and traders should beware of a short-term rebound and shakeout.
Throughout the day, the market repeatedly contested the daily top-bottom reversal level at 4016. During both the daytime and evening sessions, it touched the 4010–4020 short-entry zone Chen Jie had identified several times. In the late session, it briefly broke below 4026 but failed to hold there, then plunged nearly 30 points—delivering two short-selling opportunities. The rebound and shakeout did not change the weak market outlook. By firmly targeting the overlapping resistance zone and trading with the trend, the day’s rhythm remained entirely under control. #xau $XAU
