Gold has been trading repeatedly within the range of 4320‐4420 this week. In this wide‐ranging sideways market, you can make profits easily by selling high and buying low. The resistance at 4420 is very strong; we can keep trying short positions once price reaches this zone. The market is expected to keep fluctuating in the short‐term, but it will eventually break downwards. Bullish news will be gradually priced in. It will be very difficult for gold to climb back above $4500. Therefore, long‐term short positions can be considered when price hits 4400‐4420. Downside targets are 4300 and 4200 respectively. Once the downtrend is confirmed, gold will fall back near $4000 and we will achieve substantial profits. I will send out trading opportunities in a timely manner. Trading involves high market risks. Please trade under professional guidance to avoid account losses.
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