- In the last trading week, precious metal Gold was mostly sideways and only when the US non-farm news was published on Friday night did the price drop very sharply from 1804 to 1758 ($46) to close. weekly session with a strong bearish candle. The downward force shows no sign of stopping when in the early morning of this session, the price dropped further from 1764 to 1684 ($80). With a return to the hard support around 1678-1684, the precious metal has shown signs of recovery but in my opinion this recovery is likely to fall further at least to the price zone where the metal this morning Gold precious touches.
- On the daily chart time frame, according to my subjective opinion, precious metal Gold is likely to recover to its maximum in the early hours of this morning to around 1735-1740 and then from here it is likely to continue to decline again. again. The safe profit-taking target for this sell-off in my opinion will be around 1705.
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