Week 4 Feb 2021 review weekly close possible at 1808-1812
Gold forming bullish divergence on low timeframe
1. Potentially we could see a rejection on 175x-176x in form of weekly WICK candle
The best way to see it IMO rejection from 1797 then drop to 175x-176x
2. There is a magnet on 1813 next week
So anything above 1813 could retrace back to under 1813
For example after drop to 175x-176x gold bullish to 184x then before weekly close drop back to 1813
3. There is a supply demand / support resistance small gap on 1826 so it very possible gold retest 1826
Next gap on 1860 so if anyone curious then after 184x possible retest 1860
4. Weekly close 1808-1813 mean gold still strong bearish trend, but it possible hit to 1877 if 1808-1812 become strong support
Note: under 1877 still bear
5. Weekly close above 1900 = long term bull
Weekly close above 1877 (example 1883) also bull
6. So in simple term gold would hit 175x-176x and retest 1826, 184x and possible 1860
With a very strong retrace magnet at 1808-1814 for weekly close
1. Potentially we could see a rejection on 175x-176x in form of weekly WICK candle
The best way to see it IMO rejection from 1797 then drop to 175x-176x
2. There is a magnet on 1813 next week
So anything above 1813 could retrace back to under 1813
For example after drop to 175x-176x gold bullish to 184x then before weekly close drop back to 1813
3. There is a supply demand / support resistance small gap on 1826 so it very possible gold retest 1826
Next gap on 1860 so if anyone curious then after 184x possible retest 1860
4. Weekly close 1808-1813 mean gold still strong bearish trend, but it possible hit to 1877 if 1808-1812 become strong support
Note: under 1877 still bear
5. Weekly close above 1900 = long term bull
Weekly close above 1877 (example 1883) also bull
6. So in simple term gold would hit 175x-176x and retest 1826, 184x and possible 1860
With a very strong retrace magnet at 1808-1814 for weekly close
must not drop under 1763