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11.03.2021 03:20 PM
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

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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

Dapatkan keuntungan dari perubahan nilai mata uang kripto dengan InstaForex.
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