Monday, 2 August 2021

Comment on Gold on August 2, 2021

  In the last week's trading session, precious metal Gold had bounces from 1792 to 1832, closing the week's session with a rising green candle, but in general compared to the previous 2 weeks, the momentum  The increase is not too strong and there is selling pressure when it hits the resistance level of 1832 and in my opinion, this precious metal will have another drop before rebounding.


 Moving to the shorter-term H4 time frame, we can see that this precious metal is currently hitting the short-term support around the 1812 price level and possibly recovering to the 1820-1823 level.  This is also the price range I expect Gold to recover to establish a sell-down position in today's session.  The expected target of this sale is around 1805-1808.

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