Gold comments on April 13, 2021:
In yesterday's session, after the price of Gold rose to 1745, there was strong selling pressure from 1745 to 1727 in yesterday session, closing the day with a strong bearish candle at 1730. With If the downward pressure is once again returning to this 1730 price zone, in my opinion, it is likely that in today's session, the gold price will continue to be under pressure of falling over the 1730 mark to fall back to a deeper price range.
- Considering on the daily chart time frame D1, we can see that the MA20 on the daily chart timeframe is still the short-term support zone of the precious metal Gold, but with the current downward pressure plus above. H4 time frame is having an open band so it is likely that this price zone will not hold for long and we should not buy short here.
- If in this Asian session, the price of Gold can recover to around 1735, this is the ideal price area for us to establish a sell-down state. And in my personal opinion, it is highly likely that this decline of Gold will return to the price zone of 1718 and then 1710. This is also my target to sell precious metals in today's trading session.