Chen Bin's Point of View: Gold continues to rise, and the weekly chart will peak at 11.30, with the current price at 2046, directly opening a short position!
The so-called threshold, once passed, becomes a door, and if not, it becomes a barrier. Making things complicated is easy, while making things simple is difficult. Time is the master of healing emotional trauma, but not a problem-solving expert. Yesterday is important as it builds our memories; tomorrow is important as it gives us hope and dreams. However, the most important thing is today, and it's what we need to do today. Life is short, so live each day with a positive attitude; learn to heal the soul and don't hide in the shadows of yesterday; do what needs to be done, and tomorrow will come naturally.
Since the low point of 1810 in October, the gold market has rebounded by more than $240. However, the upside potential is limited. In the near term, the strategy will shift. Gold is expected to peak within three days, with the price likely to peak around 2050-2055, near yesterday's high point. Even if it goes up again, the temporary space will not be too large, at most reaching 2060, and it's not certain it will even reach that level. This is just the author's opinion for reference. Knowledge is acquired through learning, ability is developed through practice, and a person's energy is cultivated. Wisdom is awakened. Foresee and seize opportunities, create opportunities after the fact, and lose opportunities unknowingly.
On Wednesday, early morning gold prices quickly rose, relying on the support of 2040 and reaching the target point of 2051. However, this good trend did not last long, and a reversal followed, dropping directly to 2035. It broke through but did not continue, which is the most embarrassing. What I am anticipating is not the profit-taking of long positions, but the imminent formation of short positions.
This time, the daily closing was not good, leaving too much uncertainty for the future. The loss of 2040 likely means that this temporary upward phase has come to an end. The breakthrough of the high point of 2050 enters a strong pressure zone for the weekly and monthly charts. At least for now, it is more inclined towards short positions rather than blindly chasing long positions.
Therefore, the morning market opened directly at 2045-2046 for short positions, with 2053 as a defensive point. 2060 is not a pressure point, and it's unlikely to reach that level. Placing it above the previous high of 2053 is sufficient. If this weekly chart's topping formation occurs, it will move towards around 2020 or continue to fall below 2000. In the short term, the 4-hour chart shows a clear high-level deviation towards short positions.
Gold Operation Suggestions for November 30th:
Short gold at the current price of 2046. If it reaches 2050, add to the short position. Stop loss at 2054.6. Target at 2030-2025 for partial closure. Hold if it falls below 2020-2015.
Upon reaching around 2025 for the first time, consider going long. Stop loss at 2020. Target at 2033-2036.
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