Muyao: The data window is under pressure and gold keeps to the main bearish line



Key data is about to be released. If the data comes in stronger, it will support the U.S. dollar and rate-hike expectations, weighing on gold prices; if the data comes in weaker, it will only trigger a short-term rebound. Overall, the larger trend remains bearish, and any rebound is only for correction.

On the chart, price pushed up to 4080, ran into resistance, and then fell back. It closed with a long upper shadow and a bearish candle, with the highs continuing to move lower— the four-hour bearish channel is fully open.

Plan a short position on the rebound at 4060-4070, set the stop-loss above 4080, and targets at 4040 and 4000.

Reminder:
The above analysis is Muyao’s personal opinion. The market changes rapidly; the content is for reference only and does not constitute any investment advice!
$XAUT
XAUT-1.12%
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雾里看TVL
· 57m ago
That $4,080 pressure level is definitely solid. The long upper wick is painful to look at, and if the short channel opens, let’s have a go at it.
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Low-PolyEarth
· 1h ago
The data window is volatile, and Muyao’s setup is pretty smooth, but you must place a stop-loss—don’t bet with the market in a fit of anger.
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