Comment on Gold
At the top of last week's session, the gold valuable had a small decrease from 1747 to 1721 ($ 26) closed the weekly candle with a bearish candle at 1731. With the top of the week and therefore the close still at the worth of 1731, the selling force appeared after 2 consecutive weeks of accelerating points. Therefore, in my opinion, at the start of daily trading, we will buy short and await an honest price to sell down with this valuable.
- Considering the daily chart time-frame, we will see that the worth range from 1721-1745 has maintained for the last 9 trading days, the cumulative amplitude is smaller to attend for an opportunity out of this price range, MA20 on the chart. The daily chart remains a robust support zone for this valuable, but with the strong increase of the DXY index (measuring the strength of USD), when in the week, if the valuable metal gold is once more retested 1720-1725 we'll wait and see the new price response considering the people buy status. If 1720 is broken, the downside force is going to be very strong after many days of accumulation.
- Switching to a shorter time-frame than H4 at the intraday resistance zone, consider selling down the valuable metal around 1740-1745 and therefore the support zone of the day with the valuable metal around 1720.
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