Gold rallied strongly in the US, breaking through the 3765 resistance level and reaching a high of over 3780 before retreating below 3760 near the close. This trend was in line with expectations. Yesterday, I mentioned during trading that traders with short positions shouldn’t panic. A rising gold price doesn’t mean there are no more opportunities for short positions. Prices also need to pull back to build momentum. Short-term gains can be made, and traders who followed suit at high levels have also made small profits. Of course, it’s important to note that gold is still on an upward trend in the long term, and its current highs are continuously rising!
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