Gold Hunter #20241206

The gold price :1st_place_medal: is still in the horizontal oscillation stage, but the momentum of breakthrough has appeared in the early trading. Judging from the market last night, Europe and the United States :euro::dollar: fell and rebounded, but gold :1st_place_medal: continued to fall, and the downward trend became more obvious. Therefore, the trading strategy should be mainly based on breakthrough following. Considering that the opening momentum of the domestic market has been exhausted, it should be mainly based on retracement and bearishness.
:oil_drum:Fundamentals: As soon as the domestic market of commodities opened today, the prices of gold :1st_place_medal: and crude oil :oil_drum: fell sharply. Trump’s appointment of AI and the Tsar of the currency circle once again stimulated the stock competition between BIT coins and gold :1st_place_medal:. At present, gold :1st_place_medal: has a greater loss. At the same time, after Lebanon and Israel, Kazakhstan and Israel restarted ceasefire negotiations, which is not good for gold :1st_place_medal: and oil prices :oil_drum:. The main focus during the day is to follow the short position of gold :1st_place_medal:.
Tonight’s US :us: non-agricultural data is more critical. If the non-farm data is lower than 100,000, the gold price :1st_place_medal: may get support at 2600 and rise in the short term. If the non-farm data is higher than 200,000, the gold price :1st_place_medal: may break through the 2600 mark and continue to fall.

:white_check_mark:Trading strategy: (Trend following) Short selling at 2620
:white_check_mark:Resistance reference: 2620-2625; 2630
:white_check_mark:Support reference: 2600-2605 (non-farm breakthrough); 2650

:arrow_right:XAUUSD 15-minute chart :1st_place_medal:

Do you think the downward momentum will sustain, or could we see a reversal if there’s unexpected economic data from Europe or the U.S.?