FX.co - Analysis of Gold for October 08,.2021 - Watch for the breakout of conslidation

2021-10-08T12:27:06

Relevance until2021-10-09

Technical analysis:

Analysis of Gold for October 08,.2021 - Watch for the breakout of conslidation

Gold has been trading sideways at the price of $1,763. I see potential for the the breakout play due to the contraction period.

Trading recommendation:

Watch for the breakout play.

Upside breakout of the $1,770 can confirm test of $1,786

Downside breakout of support at $1,746 can confirm test of $1,720

*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 October 08,.2021 - Watch for the breakout of conslidation