In yesterday's trading session, precious metal Gold fell from 1903 to 1888 ($ 15) then recovered to 1898 closing the session with a doji candle. Combined with yesterday's bearish candle, our opinion today has not changed much, we still favor a slight correction of precious metal Gold after many weeks of increasing price.
- Switching to the H4 time frame, the nearest resistance can establish a sell state for the precious metal Gold around 1897-1900. Here we can establish a short position with Gold. The safe target would be around 1888-1891. This is also the support area of MA20 band above H4 that Gold has not broken yet. If we can break this price range today, we will be able to move down to 1875. This is the price range where I expect Gold can drop in yesterday's session. If we can reach here, we will be liquid. sell out and wait for a new golden long beat.
Gold Signals
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