‼ ️The world gold in the past 2 days has had a relatively strong decline when the price has decreased from 1826 to 1769 ($ 57). Yesterday, the price of Gold tested the 176x price range on 11/30/2020. In my opinion, this price zone is a very important one. If Gold price this week continues to break this 176x price range, it is likely that it will officially enter a strong price drop coming and 16xx will be the next destination of Gold on the weekly chart timeframe.
- After 2 days of bearishness and hitting strong support on the weekly chart time frame (W1) in my opinion, I am not inclined to the bearish trend that continues today and expects Gold price here will have a certain recovery span so that it can take further downside momentum in the near future.
- On a shorter time frame than D1, in this Asian session, the first level that gold can possibly recover is around 1790 - 1800. This is also the nearest short-term resistance zone that pushes the price of Gold down. day. Around this price range, we will liquidate the order and wait for the next trend.
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