Gold is no longer a one-sided rally. Its technicals are undergoing a major correction. Our strategy is to follow the trend and prioritize both long and short positions. Now, let’s analyze the broader trend. The most common question we receive is: has the market started to decline? Has gold peaked? Yesterday’s daily close was negative, and the previous trading day saw another vague tombstone candlestick pattern. Currently, we can only confirm short-term resistance, but we can’t confirm a major trend peak or a bullish trend. Furthermore, the short-term correction hasn’t disrupted the bullish trend, so today we’ll continue to maintain a long strategy on pullbacks.
Based on the 2-hour analysis, effective support remains near 3718-3723, with upward pressure focused on 3756-3765. Our strategy is to primarily buy on pullbacks. In the intermediate range, be cautious and follow orders cautiously, patiently waiting for key entry points. I’ll provide detailed trading strategies during the trading session, so stay tuned. Go long on gold if it falls back to 3718-3723, target 3756-3765;
