Gold Market Investment Analysis on October 6, 2021:
- In yesterday's session, precious metal Gold dropped from 1769 to 1748 ($ 19) and closed the day session with a bearish candle around 1759. Although closing with a bearish candle, the force was strong. The decline in my opinion was not too strong and there was a sign of withdrawal, so at the beginning of today's session, I still prioritized the option to buy this precious metal.
- Switching to a shorter time frame than H4, after Gold fell to 1748, the upward pressure appeared quite strong and pushed the price to 1762, and the 2 H4 candles now in my opinion are showing a correction to continued increase. So around the current price of 1756, we can establish a long position with precious metal Gold with a target of 1765.