Gold still needs to be shorted after a sharp drop!

💢 Driving factors

Market sentiment was dampened by reports that US President Trump signed a potential trade agreement with the UK, while investors are awaiting the outcome of the US-China trade talks this weekend. In terms of trade agreements, any cooling of the trade war and reduction of uncertainty are bearish for gold. If the US and the UK announce a trade agreement, it will be good for the overall global economy.



📊 Commentary and analysis

In terms of trend, although gold soared in the morning, it continued to fall to 3320 in the afternoon. At present, gold has rebounded moderately but is still under pressure after the sharp drop.

💰 Strategy package

For the US market, it is still a rebound short. Pay attention to the resistance of 3370-74 above. You can directly enter the short position after the rebound, and bet on the second decline of the US market!

⭐️ Note: Labaron hopes that traders can properly manage their funds

- Choose a lot size that matches your funds

- Profit is 4-7% of the capital account

- Stop loss is 1-3% of the capital account