📕 Comment on Gold on March 8, 2021:
‼ ️ At the end of last trading week, world gold price had a week of decreasing from 1759 to 1686 (73 $). This is also the 3rd consecutive week World Gold has a decline. With quite strong downside pressure on weekly and monthly timeframes, we have clearly seen the downward pressure of the gold precious metal in the coming time, but in the short term in my opinion. Last week, gold precious metal is still ending at strong support zone around 1680-1685. And in my opinion, it is likely that in the first sessions of the week, this precious metal will have an upturn momentum after a week of declines.
- Moving to daily chart timeframe we can see that last Friday the world gold price closed with a bullish candle after a series of declines in Gold. As stated at the end of the week, in order for this precious metal to increase further, today, World Gold will have to end the day with a bullish candle above 1713-1715 to be able to increase in the days. next.
- Returning to the Asian session today, we will prioritize buying the gold precious metal around the 1697-1700 zone and the safe profit-taking target will be around 1715.
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