April 29th Mu Yun Evening Thoughts



Gold intra-day shows weakness and declines, current price at 4573 with a clear bearish trend. 4580 becomes a short-term strong resistance, 4595 is a clear moving average resistance, tonight only look for a downward trend, no bottom fishing or counter-trend trading.

Key levels
Resistance: 4595, 4600
Support: 4560, 4550, 4530; extreme support 4350-4265

Trading strategies

1. Rebound between 4585-4595, staggered short positions, stop loss above 4605, target 4560-4530, break below to look at 4500.

2. Break below 4560, rebound to 4565-4570 for light short positions, stop loss above 4585, target 4530-4500.

Use 4580 as the life line for long and short, if not broken, continue to weaken; if broken below 4560, continue downward, tonight only high shorts with strict risk control. #黄金
GLDX-0.93%
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