Daily Gold, Morning Session (11/12):
(Daily Gold is only a personal analysis and forecast for short-term intraday trading. It is not a basis for copy trading. Trading involves risk, so please prioritize risk management!)
The bulls behind this rebound in gold have probably run their course completely—and the rebound has been even weaker than expected.
Next, we should be entering a rapid-drop phase, first falling quickly to around 3700. There’s a reasonable chance this will happen within the next day or two.
Along the way, price will first pass the previous low of 3870, which may not offer much resistance either.
After Shanghai gold opens today, I expect you can enter a short position at any price. If you absolutely have to pick the best entry point, it would be around 4005.
I’m serious about going short, and I’m also serious when I say I expect gold to reach 3500 in the near future! #XAUUSD $XAU
(Daily Gold is only a personal analysis and forecast for short-term intraday trading. It is not a basis for copy trading. Trading involves risk, so please prioritize risk management!)
The bulls behind this rebound in gold have probably run their course completely—and the rebound has been even weaker than expected.
Next, we should be entering a rapid-drop phase, first falling quickly to around 3700. There’s a reasonable chance this will happen within the next day or two.
Along the way, price will first pass the previous low of 3870, which may not offer much resistance either.
After Shanghai gold opens today, I expect you can enter a short position at any price. If you absolutely have to pick the best entry point, it would be around 4005.
I’m serious about going short, and I’m also serious when I say I expect gold to reach 3500 in the near future! #XAUUSD $XAU