📕 Comment on Gold on March 10, 2021:
‼ ️ At the end of yesterday's session, the
world gold price had a rather strong day from 1679 to 1720 ($ 41) closing the
daily candle with a candle covering the decline of the previous day at 1715.
With By the end of the candle yesterday,
in my opinion the bull rally of Gold after several days of decline will be
maintained in today's trading session.
- On the daily chart timeframe we clearly see
that the gold precious metal is hitting the short-term resistance zone around
1721 and is gathering strength here. In
my opinion, this resistance is not very reliable for us to establish a sell
position but only wait for this precious metal to decline to a good point to
buy up.
- Considering on the smaller timeframe H4, we
can see that the downward force after hitting the resistance zone 1721 is not
too strong, so the precious metal Gold can rise without any significant
recovery when rising strongly.
yesterday. Intraday support we
could enter a buy position around 1705-1709 and our target is the next
resistance around 1738.
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