Gold's decline is not over yet and may fall further

23 Apr

As I mentioned in the last article, Trump’s attitude toward Powell and tariffs underwent a 180-degree change yesterday, which led to a sharp rise in the U.S. dollar index, U.S. stocks, BTC and other assets. This was the main reason for the decline of gold.
At the same time, the demand for safe-haven assets will also drop rapidly as Trump's attitude eases, which will affect investors holding gold to take profits and transfer to other investment products.
Therefore, we just shorted gold near 3340 and successfully reached TP: 3300. The profit margin is 40$.

As it stands, gold is still falling, and the current price has come to around 3280. From the head and shoulders top pattern of the 1H chart, we can draw a conclusion that gold still has room to fall further.

Therefore, we still have to stick to the bearish view and look for suitable Sell opportunities. The target can be seen near the previous high of 3245 and the 3200 integer mark.

23 Apr

Dagangan aktif

If the resistance range of 3300-3290 cannot be broken, you can consider selling.

23 Apr

Dagangan ditutup: sasaran tercapai

At present, it seems that the 3270-3280 range has strong support, and the possibility of further decline today is not great. Our short positions in the 3300-3290 range can be exited now with profits.