Gold is in shock, with a high probability of rebounding

Gold has been pulling back and gaining momentum for most of the day. Although the drop is lower than expected, the probability of falling below the previous low tonight is small. It is dominated by repeated shocks, so this position continues to be considered low-level bulls.

For gold operations, it is recommended to buy at 1926, stop loss at 1923, and target 1934~1938. If gold rebounds to the 1943 line and appears under pressure, it can be sold.

Although the golden daily line closed with a long lower shadow line, it just means that there will be a rebound here, but it does not affect the general trend downward.

The previous three waves of adjustments have not yet ended. Due to the weak consolidation pattern in the B-wave rebound, there are differences in research and judgment. At present, the structure is relatively clear. From 1967 to the new downward trend C wave, the current C wave 1 has been completed, and the short-term is in the C wave 2 rebound cycle.

Traders, if you like this idea or have your own opinion about it, please write in the comments. I will be happy 👩‍💻

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Gold falls as expected

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