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Song Xiqing: Gold is currently trading below 4020, with strong downward momentum.
Our short-term trading strategy is mainly to short on rallies, with buying on dips as a secondary strategy.
Gold is currently trading around 3990. Focus on the resistance level near 4010-4020 and the support level near 3950-3960.
Short-term suggestion: short near 4010-4020, long near 3950-3960.
Since gold is consolidating at a low level and is in a downward channel this week, follow the trend, preserve capital, and be prepared for the storm.
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