Gold : A Prime Opportunity for Short Positions
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Today, gold remains under significant pressure within the 2660-2668 range, with the resistance around the 20-day moving average (MA20) proving to be a formidable barrier. The bearish momentum is clearly in control, presenting a prime opportunity for short trades.
The recommended strategy is to focus on selling near the MA20 resistance level, targeting the 2645-2637 range. This approach leverages the technical weakness, as the market favors a downward move in the near term.
Today, gold remains under significant pressure within the 2660-2668 range, with the resistance around the 20-day moving average (MA20) proving to be a formidable barrier. The bearish momentum is clearly in control, presenting a prime opportunity for short trades.
The recommended strategy is to focus on selling near the MA20 resistance level, targeting the 2645-2637 range. This approach leverages the technical weakness, as the market favors a downward move in the near term.
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Short position has made a perfect profit, today we go long
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