‼️ ️In the trading session yesterday, after the precious metal Gold decreased from 1736 to 1723 ($ 13), there was a sharp increase to the 1748 price range in the US session right after that. Closing the daily candle with a bullish candle around the 1743 price range. As you can see, after rising and falling, the price of Gold is still moving sideways in the 1725-1755 area without any significant breakout. So we can trade within this price range.
- Considering D1's daily chart timeframe, the support around MA20 on the daily time frame had a downward trend, but at the close, the price still stood firm and maintained above this MA20. As for the resistance zone, around the price zone 1746-1755 is the upper resistance level of the precious metal Gold that it has accumulated many days. If the volatility moves up and down, the sideways range remains the same and in my personal opinion we continue to sell down around this resistance zone down to the aforementioned support.
- Switching to a shorter time frame of H4, currently gold precious metal is having a slight resistance zone around 1746 and if in the next candle, H4, the candlestick force continues to rise and surpasses 1748. Last night, there was a possibility that it would retest the 1755-1758 zone. Here we can establish a short position on the Gold precious metal in the short term.
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