Gold trend vs strong NFP print and China stopped buying for gold its reverses.

Gold short term up trend was ended last Friday because gold was sold off from 2387-2388 to 2286-2288 last Friday after news of China stopped buying gold in Asian trading session and strong U.S NFP release in New York.

The June 7, 2024 gold sold-off has resumed the short term down trend, gold will drop further to 2255-2260 or 2240-2245 if gold breaks the 2280-2285 zone.

Gold is consolidating from 2286-2288 to 2299-2301 during today’s Asian trading session. Gold may go up to test the following selling zones: 2299-2301, 2304-2306, 2315-2320 following U.S Dollar index post-NFP release.

Even though the short term trend of gold is down, however it may make strong correction to 2315-2320 if the U.S Dollar makes a bounce.

To trade good gold trade today, you should watch the U.S Dollar Index and the following zones: 2299-2301, 2304-2306, 2315-2320 for a good SELL gold signal.

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