FX.co - Analysis of Gold for August 23,.2021 - Inside day formation, watch for the breakout to confrim further direction

2021-08-23T11:35:15

Relevance until2021-08-25

Technical analysis:

Analysis of Gold for August 23,.2021 - Inside day formation, watch for the breakout to confrim further direction

Gold has been trading sideways at the price of $1,792. The breakout mode can be in play for the next period.

Trading recommendation:

Watch for potential breakout of the inside day formations and rectangle consolidation.

The breakout of the resistance at $1,805 can confirm test of $1,830

The breakout of the support at $1,775 can confirm test of $1,756

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade

Analytical expert

Petar Jacimovic

FX.co ★ Analysis of Gold for August 23,.2021 - Inside day formation, watch for the breakout to confrim further direction