Market News

New Beginning of The Year With Uptrend of Gold


Update on Gold on 03/01/2021:

- Closing last week's trading precious metal Gold had another gaining week when the price increased from 1789 to 1829 (40pip).  With the end of the last 3 candles of the week showing an uptrend, in my opinion, the uptrend will continue in the next trading week.

- On the daily chart time frame, we can see that Gold is currently touching the old resistance area around 1830-1834, a correction is likely here. You may consider short selling at this price area.  The closest support area for precious metal Gold is around 1815-1818.  It is likely that after this correction, Gold will continue to rise again.  If the resistance area is broken 1830-1834, then 184x will be the price zone where this precious metal is headed.