Daily Gold Update on 5/11/2021:
- In yesterday's trading session, precious metal Gold ran exactly as analyzed when going from 1769 to 1798, closing the day session with a bullish candle around 1791. With the bullish force dominating. If the position overwhelms the previous 2 losing sessions, in my opinion, it is likely that Gold will continue to increase in today's session.
- After rising strongly back to the 1798 resistance area Gold has shown signs of a slight correction to around 1790 and if at the beginning of today's session, the precious metal doesn't fall deeper than 1790, then it is likely that Gold will go down. always go up to the higher prices 1800-1806. I expect Gold will correct further to return to the expected zone of 1776-1783 so that I can establish a buying position with a short SL, a safe target around 1800-1805.