Gold returned to a higher position yesterday in U.S. trading hours after hovering between 1920 and 1930. Claims for the unemployed worse than expected pushed prices higher. Gold rose to 1966 and continued to move between 1945 and 1950. Asia closed today at around 1,940, creating a medium-term downtrend. Interest is now focused on the evolution of vaccines, and the debate over the US general election could also send another wave to the market sooner or later.








Technically, the 4-hour chart (H4) for gold looks bearish, as indicated by the three bearish signs. The new trend line is showing the price of gold, falling from the high of 1924.71 or 1917.20, the support line when reaching this price is expected to recover. The next target to look at is if the downtrend closes sharply on both uptrend lines, the price could take the upside from that point.

May reach the expectation of a recovery from that price. The next target to watch in case if a pull back to close sharply on the two uptrend line is likely to occupy the market from then on.

Opportunity for today, investors should sell gold between 1940, setting the first profit at 1,924 and the second target at 1,917 with risk management at 1,952.