Market News

Today Gold Market Will Slightly Up


Comment on Gold on June 16, 2021:

- Ending yesterday's session precious metal Gold had another day of declines from 1868 to 1851 ($ 17) closing the day at 1858. With the close of the day with a bearish candle with the latter bottom lower than the previous one.  Therefore, in addition, there is a band opening on the D1 daily chart, so in my opinion, today precious metal Gold will likely continue to decline to lower prices.

- Switching to a shorter time frame than H4 we can see that Gold is still at the support zone around 1855 but with the current downward force, I think if there are slight uptrends of precious metal  Gold is also a point for us to establish a sell position and the price of 1855 will be difficult to stand and if the support area is broken at 1855, the possibility of Gold will drop to 1845 and beyond possibly 1835.