Technical Analysis on Gold- February 26, 2021

At the end of yesterday's session, the price of Gold fell quite sharply as analyzed by the decline from 1804 to 1764 ($ 40) to close the daily candle with a strong drop around the 1770 threshold. The daily chart is quite strong but the close has yet to break the strong support zone at 1760-1765. So in my personal opinion during today's Asian session GOLD will have a certain recovery rhythm.
- With Gold retesting the 176x zone, this is the price zone that I constantly mentioned as the previous weekends. will slide down very sharply because the 176x price range is the last stop of the past 3 months.
- Today is the weekend as well as the end of the month, what I said above is even more important. If this week closes below the threshold of 1765, the possibility of next week will be the deep down week of Gold, but in the opposite case, if Gold can maintain the price above 1765, this precious metal will have a rebound. for investors to take profits.
- Returning to the Asian session today, I expect that from this strong support zone, gold precious metal can recover to around 1777 and beyond 1785 (yesterday's support zone). Here it is likely that Gold will have a rebound and we will wait for the price reaction of the precious metal at the strong support zone at 1760-1765 for the next option.
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