Thursday, 10 June 2021

Comment on Gold on June 10, 2021

Ending yesterday's session, precious metal Gold fell to the benchmark as the analysis scenario when it fell from 1898 to 1887, closing the day with a bearish candle.  The fact that the precious metal hasn't surpassed 1900 in the past 2 days shows that the selling pressure at this price area is still quite strong and my personal opinion on this metal will not change much, still selling down with the price range.  next support.

 - On the H4 time frame, we can see that the uptrend is weakening with the following peak lower than the previous one and the price is still clinging to the short-term trendline channel that has been pulling from June 1, 2021 until now.  So we will continue to sell down if this precious metal touches this trendline channel.  My view is that in today's session, Gold will drop to 1875.

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