📕 Comment on Gold on April 6, 2021:
Gold Technical Analysis
‼ ️In the first trading session of the week yesterday, the world gold price did not change too much when it was moving in a range of 1721-1729. Closing yesterday's session world gold price closed the day with a bearish Doji candle indicating that the strong buying effect of the previous 2 days is no longer maintained. When the gold precious metal ended the day with this candle, it confirmed my short-selling point in my analysis yesterday morning. Today I expect this precious metal to form a reversal candlestick pattern and decrease price to lower price range.
On the H4 timeframe, we can see that the gold precious metal is leveling off the old resistance zone around 1730-1733. This is the price zone where since mid-March it accumulates 9 days to penetrate downwards, so in my opinion, to break the 1730 price zone up, it takes recovery span to get up force in the near future.
In my personal opinion, still maintain short-term selling to this precious metal around the current price zone. The safe target will remain around 1718-1720 and expect a deep recovery rather than 1710. Around this price range, we will look at the signal to establish a buy position on the precious metal Gold.
No comments:
Post a Comment