Gold Update on September 20, 2021:
- Ending the last trading week precious metal Gold had 1 week of decline from 1808 to 1744 ($ 64) closing the week session with a bearish candle around 1754. With precious metal, Gold showed The downward pressure is quite good on the weekly time frame, so in the beginning of this week's session, I think it is likely that Gold will continue its downward trend.
- Switching to the daily time frame, we can see that Gold is currently facing resistance around 1746-1750. Here, the buying power may appear to the first resistance area around 1760, if it can overcome this price zone, it can head to the price level of 1775-1780. This is quite a strong resistance area for precious metal Gold and if Gold recovers to this price zone we can establish a short position with the target that Gold fell last week at 1745.
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