Gold initially rebounded intraday, testing pressure around 3348 before and after the European session. It subsequently corrected somewhat, but due to the continued weakness of the US dollar, the correction was limited, currently trading only around 3333 before rebounding again. Judging from the current hourly chart, gold still has technical potential for a correction under pressure. However, given the unusually weak US dollar, gold should be wary of potential volatility. Technically, we will continue to focus on the key resistance around 3345-3355 above, while 3330 below serves as key short-term support. For trading strategies, focus on the 3330-3355 range.
In the previous strategy, it was suggested to short gold near 3345, and the rebound high point was realized as expected. This position was under pressure many times during the day, and there were good returns. The bottom also gave everyone short orders near 3345, which fell as expected. In the evening, another short order at 3345 was arranged, and it fell smoothly to 3335 to take profit and exit. The strategy in today’s article repeatedly emphasized shorting near 3345. Congratulations to those who followed it, and it ended the week successfully!
