Gold market analysis and trading signals for Feb 3, 2021

Gold made a spike to 1865 during market open on Feb 2, 2021 and it dropped heavily from 1865 to 1831 because the USD index got stronger.

Gold dropped bellow the 1848-1851 which was a strong sell gold signal because the 1848-1851 was the lower zone of the gap 1848-1868

Sell Gold Signal After breaking the 1848-1851 zone

Gold currently has support zones around 1829-1830 and 1838. Gold may go up to test the 1845-1851 if gold cannot drop bellow the 1838 level.

Gold is still consolidating from the 1831 to 1873 range, breaking out of this range gold will start a new trend.

Breaking the 1829-1831, gold will be bearish gold signals and it will drop to 1803-1808

Breaking the 1873-1875, gold will be bullish gold signals and it will go to 1895-1900