➡️ The current downward movement in GOLD is expected up to the level of 1746.120$, where there is a strong support from the daily chart (This level on the D1 chart is presented below in the comments). A trading idea for selling this instrument was presented earlier this week (see the link below for this and other ideas).
An opinion is being formed on the market that the metal will grow amid fears and a new threat from the coronavirus. Perhaps so, but in this analysis, first of all, the technical moment is taken into account. That is, now the metal will fall, as expected, to the level indicated above. There is most likely some part of the market participants will close their short positions, as the support level is strong.
Please pay attention to the SELL arrow❗️ This arrow points to the Sell Entry Point❗️ If you are wondering what kind of strategy it is and how to determine this Entry Point yourself, then I will be happy to write an education idea and tell you more about this strategy. I am waiting for your reaction in the comments👇