FX.co ★ Analysis of Gold for March 11,.2021 - Potential completion of the ABC upside correction

• China is obviously optimistic about economy, but also realistic
• China doesn't want big fluctuations in GDP growth
• 2021 GDP growth target should match that in the next year to avoid big swings
• Growth target is aimed to guide expectations

Historically speaking, it is low but one also has to consider the current predicament of the global economy I guess. Nonetheless, when China sets the target as such, expect that to be hit one way or another regardless of how the economic figures turn out to be.

Further Development

Analyzing the current trading chart of Gold, I found that there is potential for the completion of the ABC upside correction.

My advice is to watch for selling opportunities with potential downside targets at $1,720 and $1,710.

Key Levels:

Resistance: $1,740

Support levels: $1,720 and $1,710