Thursday 22 April 2021

Comment on Gold April 20

  ‼️ ️ At the end of yesterday's session, the world gold price had a 1-day decline from 1790 to 1766 ($ 24), closing the day with a bearish candle after strong gains.  This is also the necessary downward momentum for this precious metal to go to higher price ranges and in my opinion, after dropping its correction to 1766 last night, there are supportive forces to  pushing up this precious metal price during the day.


 - After hitting the strong resistance zone at 1790, gold price had corrections and in my opinion this is a downside to turn up because on the weekly chart, the trend is still in favor of buying, in addition to the continuous strong downward momentum.  of the USD index, this also supports the uptrend of Gold.

 - Considering on a shorter time frame than H4, the precious metal currently tends to decrease to around the old support zone of 1758-1763.  In my opinion, this is the support zone to push up the price of gold precious metal during the day.  Here we can establish a buy position on Gold precious metal with a safe profit-taking target around 1770-1775 at the beginning of today's session.

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