Can gold fall?

May 31, 2023

Optimism over the U.S. debt ceiling deal hit the dollar and U.S. Treasury yields, which fell sharply from two-and-a-half-month highs, providing an opportunity for gold to rebound, and the international situation also provided safe-haven support for gold prices

Gold short-term bearish signals have weakened, but the dollar is still relatively strong, the Fed June interest rate hike expectations heating up and the year's interest rate cut expectations cooling, gold may fall at any time, short-term trends still have large changes, gold is currently above 1970 resistance to fall, gold shows shock adjustment

On the whole, gold trading above short-term focus on the 1970-1975 line of resistance, the short-term focus on the 1955-1960 line of support, gold is still suppressed by the moving average, in addition, it is also necessary to pay attention to the non-farm payrolls data released on Friday.

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Jun 1, 2023

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Next, we need to focus on the change in US jobless claims, the US ADP employment data for May and the performance of the US ISM manufacturing PMI for May

Jun 1, 2023

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Gold shorts can close orders, get profits and wait for the next trading opportunity