Monday, March 15, 2021 7:30 AM EDT
Gold is very bearish. The price should retrace to the POC zone and start a fresh move down.
The POC zone 1742-50 is the important zone where we can expect fresh sellers. If the market retraces back there, we might expect a fresh move down. Targets are 1708 and 1692. Further continuation down will lead the price to retest 1661. As long as 1776 holds, gold bears are safe. Selling on rallies is the way to go now until proven otherwise.
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Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. On average around 80% of retail investor accounts loose money when trading with high leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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Gold heading up. D