Gold market analysis and gold signal after US NFP for Feb 8, 2021

Gold was choppy from 1796-1806 after US NFP report last Friday. However, gold was not sold off to continue its down trend, but it went up to 1813-1815 because of weal USD Index.

Gold has gone to 1813-1815 because of weak USD index – positive signal for gold

It is trading around 1813-1815 and the short term trend is up. Gold is expected to test the 1818-1821 or 1831-1835 if gold breaks the 1816-1821 zone.

If gold cannot break the 1816-1821, gold will be sold off to resume its medium term down trend.

Gold Resistant Zones: 1833-1835, 1843-1845, 1853-1855

Gold Support Zones: 1813-1815, 1800-1805, 1785-1790

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