‼️ ️ At the end of yesterday's session, the world gold price had a day of strong increase from 1732 to 1758 ($ 26), closing the daily candle with a strong bullish candle, surpassing the previous 1745 price range. In my opinion, this precious metal with such momentum will likely continue to be pushed up in the next sessions.
- Considering the overview on the weekly chart, we can see that this precious metal Gold from the previous week (the beginning of the month) until now has continuously increased and has not had a single day of correction, so in my opinion, it is likely to decrease. The surprising point of this precious metal is entirely possible and a rapid decline of $ 10-20 is normal in this case, especially today the market is still at the weekend, so it is likely that there will be a profit-taking rhythm. often.
- Still, on the D1 daily chart time frame, we see the uptrend currently dominates but also facing a resistance zone around 1760-1762, adding to the possibility of a sudden correction as submitted. So here I am still establishing a short position with this precious metal. The target will remain around 1745. There will be liquidity and wait for a buy signal if any.
- The resistance zone pushes the price of Gold down during the day around 1760-1762 and the price support of
this precious metal is from 1740-1745.
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