- In the US session last night after the US inflation-CPI data was released Gold ran in two directions when it fell to 1821, then increased to 1841, then fell back again, closing the day session with a candle. declined at around 1826. With Gold closing the day as a bearish candle but still at a high price, I still prioritize the bullish option with this precious metal.
- Moving to the H4 time frame, we can see that the downward pressure is still quite strong around the 1835 price area so if we establish a buy position, this is a safe profit taking point. The nearest support price zone for this precious metal Gold is 1818-1823. If in today's session Gold corrects to this zone, we can establish a buy position with the above target.
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