Gold market analysis and gold signal for Feb 22, 2021

Gold was sold off from 1725 to 1763 last week because the US Long Term Interest Rate has gone up. The last week’s heavily sold-off is generating gold sell signals.

Gold tested the 1763-1765 and it is making a bounce around to the 1791-1793. Gold may go up to 1798-1803 if gold can break the 1791-1793 zone during today’s Feb 22 London Gold Trading session.

Gold short term trend is up but its medium term trend is down. Gold will drop to test the 1763-1765 zone again if gold is sold off around 1791-1793 or 1803-1805

Gold short term trend is up and it is making a bounce to 1791

If gold cannot break the 1791-1793, gold will be sold off and the short term trend will be bearish.

Gold Resistant Zones: 1791-1793, 1803-1805, 1819-1821

Gold Support Zones: 1773-1775, 1763-1765

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