Gold fluctuates, waiting for data to guide the direction

In the recent volatile market, we must restrain the impulse to chase the rise and sell the fall. In terms of operation, it is recommended to go high and sell low in the range of 3270-3360: do not chase long above 3340, and go short on highs; do not chase short below 3280, and go low on callbacks. If the trend effectively falls below 3260 and stabilizes, it will be regarded as a medium-term long signal, rather than a stop-loss exit opportunity. The 1-hour moving average of gold begins to converge, but it continues to diverge downward. It seems that the surge of gold is just to lure more. Gold has been up and down recently, but the overall shock is still bearish. Whether the current shock of gold will eventually reverse upward, or is it just a relay of the decline, the data of gold in the second half of the week may give the answer. Since gold also rushed up and fell under the stimulation of risk aversion, it means that gold is still under pressure from above.


Investment strategy: Gold 3335 short, stop loss 3345, target 3270