FX.co ★ Analysis of Gold for August 02,.2021 - Breakout of the falling wedge and potential rally towards $1.816

Technical analysis:

Gold has been trading sideways at the price of $1,808 but I see potential for the rally towards $1,816.

Trading recommendation:

Due to the oversold condition and falling wedge pattern in the background, watch for buying opportunities with the upside targets at $1,816 and $1830.

Stochastic is showing bullish divergence in the background, which is good sing for the further rally...

Key support is set at tht price of $1,805