Tuesday 30 November 2021

Comment on Gold on 30/11/2021

 Yesterday after precious metal Gold bounced back and recovered near 1800, fell sharply to 1781, closing the day's session with a bearish candle around 1784. This is the 5th day in a row that Gold can't fall through.  passed the support price zone 1775-1785, so in my opinion, Gold will have a recovery span when it returns to this price zone.



 - Moving to the H4 time frame, we can see that every time Gold reaches this price level, the candle usually reaches the upper support area, withdraws and bounces back, plus 1 thing is that after the past 2 weeks of decline, today  Today is the last trading session of November so there is a possibility that there will be a profit-taking rhythm so there is a possibility that there will be strong movements for Gold in the US session tonight and my point of view is to prioritize the option to buy at the closing level.  Safe words are 1800-1805.

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