After touching the short-term support zone at 1725 gold precious metal has rebounded from 1723 to 1738 ($ 15) to close the daily candle around 1733. With the end of the daily candle around this price zone, in my personal opinion, would still maintain the bearish stance as reported yesterday.
- On the daily chart timeframe we can see that this precious metal Gold, although it had a rebounding rate yesterday, but compared to the decrease of the next candle, it is my opinion that the recovery span increases. usually let us have a better selling point today.
- Considering the smaller timeframe of H4, we can see that the price zone 1734-1736 is the zone where the precious metal price is facing resistance and it is likely that in this Asian session, gold will correct again to the zone 1725 and the period. My expectation is around 1715.
- And every strategy we all must have SL to preserve accounts. In my opinion, if the price of Gold rebounds strongly beyond 1744, we will have to liquidate the order, waiting for the next signal.
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