Gold market analysis and trading signals for Feb 4, 2021

Gold did not break the 1831 after good US ADP and ISM reports yesterday. But it closed around 1835-1836 and the market did not have bearish or bullish gold signal on Feb 3.

Gold has been sold off from 1834-1835 to break the 1831 during Asian market open, and it is dropping to 1811-1813. Gold short term trend is bearish and it is dropping heavily

Gold broke the 1831 level during early Asian trading session.

Gold currently has support zones around 1811-1813 and 1800-1805. Gold may make a bounce around these zones before it resumes its short 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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