📕 Comment on Gold on 12/03/2021:
‼ ️In yesterday's trading session, the world gold price had a bounce from 1723 to 1740 after touching this price zone. point. At the end of yesterday the price of gold was sold off after 2 days of the rally this also proves that the buying pressure has also decreased but the downward pressure is not strong, so in my personal opinion early today buying will be. still dominated and it is possible that this precious metal will have a retest at the 1740-1746 price range.
- Today is also the last trading day of this week, so the closing price of this week is very important, namely the 1740-1746 price range mentioned above. If the 1740-1746 price range is not broken this week, there is a high possibility that Gold will officially return to the previous mainstream downward trend, but if Gold rebounds strongly beyond this level, the uptrend will continue. in the next week's sessions.
- Back today, the precious metal Gold is currently around the support level of 1718-1721 and in my opinion, we can establish a short buy position on Gold. The safe target is to take profit below 1738 and wait for price reaction around the 1740-1746 zone to consider whether to sell down. Here I will have the next update with proper signal entry-level stop loss and target prices. Thanks
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