Comment on Gold on March 15, 2021:
At the end of last trading week, World gold had a week of gaining and recovering after 3 consecutive strong declines from 1675 to 1739 (64 $). With the strong increase of the candle last week, in my opinion, it is highly likely that in the beginning of the week's session, gold price will continue to be supported to increase.
- Considering the daily chart timeframe we also clearly see this. Friday's candle was a 2-way candle but ended the day as a long-legged push candle, showing that the upside force was regained at the end of Friday's session.
- Moving to the smaller timeframe of H4 in my opinion the nearest support that pushes the price of Gold up for that day is around 1720. Here we can establish a buy position with target short term is the "old peak" on Thursday last week 1740 $ / oz When we reach this price range we will liquidate orders and wait for signals. Here I will have the next update.
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