Gold was sold off heavily from 1810-1811 to 1795-1796 before Mr. Powell speaking. And a Sell gold signal at 1810-1811 was executed for around 130 pips profit on Feb 23, 2021
However, gold went from 1796 back to the 1811-1813 during Mr. Powell speaking because Mr. Powell said that the Fed would keep the current interest rate and momentary policies.
Gold is expected to trade from 1798 to 1815 to wait for a new trend after Mr. Powell’ speech. Gold is expected to make big movement to 1831-1833 or 1848-1851 if gold breaks the 1813-1815 zone
Failing to break the 1813-1815 is bearish and gold sell signal will be formed around 1813-1815. The 1813-1815 is the key zone to watch for bull/bear fighting for gold direction.
Gold Resistant Zones: 1813-1815, 1829-1833
Gold Support Zones: 1798-1801, 1781-1783, 1773-1775, 1763-1765
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