Gold price increased from 1960 to 2070 ($110) and fell back

 


📕 Comment on Gold on March 14, 2022:


 - In the last trading week, we witnessed a 2-way running with a large amplitude of Gold, Gold price increased from 1960 to 2070 ($110) and fell back after that, closing the week with a bullish candle at  around the price zone of 1989. With the tension between countries about the war in Ukraine, in my opinion Gold can bounce back at any time.

 - On the D1 daily chart time frame, the 1960-1970 zone is the price zone where when Gold dropped to here, it retreated to increase again, this we can see clearly in the last 2 days of the last week.  Therefore, this price area is a good support area for precious metal Gold at the beginning of this week's trading session.  We can establish a buy position when Gold is around the upper threshold with a safe target around 1990.

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