Wednesday, 24 November 2021

Comment on Gold on 24/11/2021

 In yesterday's session, precious metal Gold dropped from 1812 to 1781 ($31), closing the day session with a bearish candle around 1788, this is the 4th day in a row the precious metal  The sell-off was quite strong and yesterday Gold broke through the support of 1800 to go down to the next level around 1781. Although the downside force on this precious metal is quite strong, but my personal view after the drop.  At this point in many consecutive days, Gold can bounce back at any time because the news about interest rates, in my opinion, the market has reacted and Gold is still a safe-haven channel during this inflationary time.

 On the D1 time frame, Gold, after meeting the support area of ​​1781, rebounded slightly and in my opinion, I expect gold to continue to rally to around 1800-1805.  Here we liquidate the order and wait for the market's reaction.

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