Comment on Gold on March 16, 2021:
In the first trading session of the week yesterday, the world gold price fluctuated not so strongly as it bounced up from 1721 to 1734 (13 $) closed the trading day with a light up candle at 1731. With the end If the daily candlestick is around this price level, the uptrend of the gold precious metal as yesterday I expected will remain. We will remain buying up to at least around the "old high" level of 1740.
- Moving to a shorter time frame than H4, we can see that the downward pressure in yesterday's Asian session on gold precious metal is there, but after many retesting the 1722 price range, the price did not break and back up. This makes the 1722 support level stronger. So in the beginning of today's session, we will prioritize buying when prices recover.
- The support price zone pushed up the precious metal Gold during the day around 1720-1724. That safe target is around the nearest resistance at 1738-1740 and expect it to be around 1746-1750 today.
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