📕 Comment on Gold on 12/07/2021:
- Ending last week's session, precious metal Gold had a week of gaining from 1784 to 1818 ($34) and was the third week in a row to close the week with a rising candle with a higher peak than the previous one. With the weekly candles still supporting the uptrend, in my opinion, Gold will continue to gain in this trading week.
- Switching to the D1 daily chart time frame, we can see around the 1815 price zone as the closest resistance area with the precious metal Gold and to continue the rally, we need to overcome this price zone. In my opinion, in the early trading sessions of this week, it is likely that Gold will accumulate to wait for a breakout in the coming sessions and the timeframe and H4 time frame we can clearly see its sideway.
- After breaking out of the 1795 resistance area, from July 6, 2021 to now, there has been no further breakout. And in my opinion we can trade in this range. Establish a short position around 1810-1815 with a safe target around 1797-1800.
Sell limit #XAUUSD #GOLD at 1813
SL: 1823
TP: 18XX 17XX
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