Post
K线人生飞哥
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Gold $XAU may not have peaked yet.
The upward momentum of gold after this pullback may last for a few more days, possibly even reaching 5800 or 6000 dollars. Because in times of panic, prices are not rational.
From a technical chart and historical patterns, the current market situation belongs to a short-term topping phase (Blow-off Top).
1: Extreme emotionality
In three days, it rose by 500 dollars (10%), a speed that usually only appears before the final climax of a bubble burst. Most of the current buying is panic buying from those who missed out, as well as forced short covering after short sellers are liquidated.
2: Physical limits
No asset can continue to rise at a 90-degree angle indefinitely. Such accelerated increases are often accompanied by tremendous profit-taking pressure.
My judgment is:
The upward momentum of gold may pause for a few days before surging towards 5800 or 6000 dollars. Because in times of panic, prices are not rational.
However, what follows will surely be a very rapid and deep correction (Flash Crash). It may plummet 300 to 500 dollars within a day to wash out those speculators who chased the highs.
So, in the short term, this wave of crazy growth may have only a few days left in time, but in space, there may still be one last surge.
{future}(XAUUSDT)
The upward momentum of gold after this pullback may last for a few more days, possibly even reaching 5800 or 6000 dollars. Because in times of panic, prices are not rational.
From a technical chart and historical patterns, the current market situation belongs to a short-term topping phase (Blow-off Top).
1: Extreme emotionality
In three days, it rose by 500 dollars (10%), a speed that usually only appears before the final climax of a bubble burst. Most of the current buying is panic buying from those who missed out, as well as forced short covering after short sellers are liquidated.
2: Physical limits
No asset can continue to rise at a 90-degree angle indefinitely. Such accelerated increases are often accompanied by tremendous profit-taking pressure.
My judgment is:
The upward momentum of gold may pause for a few days before surging towards 5800 or 6000 dollars. Because in times of panic, prices are not rational.
However, what follows will surely be a very rapid and deep correction (Flash Crash). It may plummet 300 to 500 dollars within a day to wash out those speculators who chased the highs.
So, in the short term, this wave of crazy growth may have only a few days left in time, but in space, there may still be one last surge.
{future}(XAUUSDT)
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