Gold surged and then pulled back. It hit 4,152 at the daily 50-day moving average and was rejected. Now at 4,078, it has broken below the 4,082 pivot; there’s a vacuum down to 4,031. Shorting here is like catching a falling knife. The 21:30 NFP report hasn’t been released yet.
Conservative: Short a rebound to 4,100 if it fails to break above. Stop 4,122; target 4,064.
Aggressive: Short on a break below 4,064. Stop 4,086; target 4,031.
Invalidation: A close above 4,100 invalidates the short; target 4,142.
$XAU #Gold
Conservative: Short a rebound to 4,100 if it fails to break above. Stop 4,122; target 4,064.
Aggressive: Short on a break below 4,064. Stop 4,086; target 4,031.
Invalidation: A close above 4,100 invalidates the short; target 4,142.
$XAU #Gold