FX.co - Analysis of Gold for August 26,.2021 - Strong back into the previous trading range

2021-08-26T11:49:29

Relevance until2021-08-27

Technical analysis:

Analysis of Gold for August 26,.2021 - Strong back into the previous trading range

Gold has been trading downside yesterday. I see potential for the further drop towards $1,782 and $1,755.

Trading recommendation:

Due to strong downside back into the old trading range in the backgorund on high volume, I see potential for further downside movement.

Watch for selling opportunities on the rallies with the downside targets at the price of $1,782 and $1,775.

Key resistance is set at the price of $1,797

*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 26,.2021 - Strong back into the previous trading range