Gold on February 15, 2021
‼ ️ At the end of last week's trading session, world gold price had 1 week of recovery after next week's sharp decline. The world gold price last week has sometimes bounced up to 1855, but this rise was not maintained until the end of the week. Closing the weekly candlestick with an upside-down candle at 1823. With the closing of the weekly candlestick being a bullish candle, in my opinion, this momentum will be maintained during the first few sessions of the day. this week.
- This increase, in my opinion, is also evident in the candle on Friday last week when the price dropped to 1810 but at the end of the session, it pulled back close to the opening price on the day, so on the daily candlestick. I also support an uptrend that I do subjectively evaluate on the weekly chart.
- Considering the smaller timeframe H4 we can see the price range we can establish a buy position around 1820. The closest target I think this precious metal can achieve is around the threshold. 1832 and the expectation are 1838-1840. This is the resistance zone of the gold during the day.
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