Market News

Gold Update- Will Recover the Position

 

Comment on Gold on 04/11/2021:

- At the end of yesterday's trading session, precious metal Gold dropped quite strongly from 1786 to 1758 ($28) due to signs of the US job market having many positive signs.  After touching that price area, Gold appeared buying force and rebounded to 1775, closing the day session with a bearish candle but the drop was not too strong, withdrawing right away from the support price area.


- On the H4 time frame we can clearly see that when the last 3 candles (including the current candle) are showing quite good buying power and in my personal opinion in today's session.  Today Gold will recover to regain yesterday's downtrend, if there is a slight correction at the beginning of today's session to around 1767-1773, this is the price area where we can establish a buy position.  into this precious metal with a target of 1786-1792.