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Song Xiqing: Where is gold's next stop after breaking 3980?
Gold has already broken sharply below the 3980 support and is currently testing the 3930-3940 area. The downward trend is strong, so it is not suitable to buy the dip in the short term. The resistance above is around 4000-4010. If it rebounds and encounters resistance here, consider lightly shorting near 3990-4000.
Keep an eye on the 3930-3940 support below. If 3930 is broken, then look further down to 3880-3900. The overall strategy is to focus on shorting on rallies, patiently waiting for the right time to enter. Trade with caution.
Note:
The above analysis is Song Xiqing's personal analysis. The market changes rapidly, and the content is for reference only. It does NOT constitute any investment advice!
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