Gold is expected to rebound to the 3270-3275 areaFundamentals:
Focus on today's NFP market;
Technical aspects:
Gold stopped falling near 3200 and gradually rebounded, and has now rebounded to around 3240. As for this round of rebound, I have actually made it clear in my previous opinion that the bulls and bears are wrestling at the 3200 mark, and there will still be repeated in the short term, and after the downward trend slows down, some trapped bulls must have self-rescue behaviors, so it is not surprising that gold has rebounded.
From the current structure, gold has not shown a clear bottoming signal, so the gold rebound is only temporary, and gold will continue to fall after the rebound. From the perspective of frequent switching of intervals, since gold has broken through the area near 3235 during the rebound, the rebound may continue, and is expected to continue to the area near 3270-3275. After breaking through this area, it is even expected to continue to around 3290. This is the position area where we must focus on entering the short position.
Trading strategy:
1. Consider buying gold in the 3235-3230 area, TP: 3245-3255; pay attention to setting protection.
2. Consider selling gold in batches after gold rebounds to the 3270-3275 area, TP: 3240-3230
