In yesterday's trading session, precious metal Gold was on-trend when the price bounced up from 1786 to 1800 ($14). Closing the day session with a bullish candle, however, the upward force was more limited compared to the previous 2 days. In my personal opinion, after touching the resistance area around 1800 precious metals, Gold is showing it's slowing down and it is possible that around this price zone there will be a slight correction.
On the weekly and daily time frame, it also clearly shows this resistance when Gold hits MA20 on W1 as well as the downtrend line that has lasted from June 1, 2021, until now and in order to continue increasing, Gold needs a slight correction. necessary, needs. We can establish a short position in the current price zone with the target around 1782.
Sell GOLD current price 1795 and sell limit at 1798
SL: 1805
TP: 1790 1785 1780
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