Market News

Gold Update- Selling Pressure of This Precious Metal Will Appear

 

Daily Update on Gold- 11/10/2021:

- In the last hours of last week's trading session, precious metal Gold had bounced to 1781 but then fell back to $26 to 1755, closing the day session with a bullish candle with a long beard.  along with it is also closing the weekly candle with a bearish candle.  With the closing of the weekly candle as well as the daily candle, it shows that the upward force is weakened, so in my opinion in the beginning of today's session, the selling pressure of this precious metal will appear, selling priority will be today's strategy.  

- Moving to the H4 time frame, we can see that apart from the last weekend's sweeping candle, the range is still in the sideways zone and has not shown any signs of breaking out.  So around 1765 is still an area where we can establish a sell position with the target being the lower band of this sideway 1750-1755.