FX.co - Analysis of Gold for September 06,.2021 - Buying climax in the background and potential for the absorption

6 September 2021 at 11:53AM (UTC+0)

Relevance until7 September 2021 at 11:53AM (UTC+0)

Technical analysis:

Analysis of Gold for September 06,.2021 - Buying climax in the background and potential for the absorption

Buying climax in the background and potential for the bigger drop in the next period.

Trading recommendation:

Due to buying climax in the background, there is potential for the downside rotation and potential absorption.

Watch for selling opportunities with the downside targets at $1,817, $1,814 and $1,805.

Key resistance is set at the price of $1,832

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade

Analytical expert

Petar Jacimovic

FX.co ★ Analysis of Gold for September 06,.2021 - Buying climax in the background and potential for the absorption