📕 Comment on Gold on 04/03/2021:
‼ ️After Tuesday's gain, yesterday world gold price turned down from 1740 to 1701 ($ 39) closed the daily candle with a strong bearish candle at 1709 penetrating the support zone. 1716. With the price decreasing gradually with the lower bottom lower than the previous one, in my opinion the 1701 support price zone will no longer be reliable, there is a high possibility that Gold will continue falling at the next support level 1685- 1689.
After creating a new bottom at 1701, the precious metal Gold is showing signs of recovery, but not so that we buy up with downside pressure from large time frames is still quite strong. So in my opinion today we will wait for this precious metal to recover to around 1722-1728 to establish a sell position. The target should hold back to 1701 and expect to reach the intraday support at 1689.
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