Ending the last trading week precious metal Gold fell from 1825 to 1789 ($36) and closed the trading week with a bearish candle around 1801. This is the first week of decline after nearly a month. Through the recovery of precious metal Gold and my personal view, this trading week still expects this precious metal to drop further with a stronger correction compared to the last trading week.
Switching to the daily chart time frame we can see that currently, the price area around 1794 is still a relatively strong support area for this precious metal Gold has not been broken many times, the price keeps touching the price zone. This price rebounded again and I expect this trading week this price zone will break down to go deeper. Above is the resistance zone 1810-1815 and if the price goes up to this zone then this is the ideal area for us to establish a short position in precious metal Gold with a safe target of around 1794 and expectation is 1785.
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