FX.co - Analysis of Gold for February 24,.2022 - SUpport on the test at $1.930

24 February 2022 at 3:12PM (UTC+0)

Relevance until25 February 2022 at 3:12PM (UTC+0)

Technical analysis:

Analysis of Gold for February 24,.2022 - SUpport on the test at $1.930

Gold has been trading upside today but there is the the sell off in the background, which can be potential for buyers to load long positions.

Trading recommendation:

Due to strong upside momentum in the background and breakout of multi month consolidation I see potential for further upside continuation

Watch for potential buying opportunities on the dips and area around $1,930 and 1,920.

Upside objectives are set at $1,965 and $1,973

Additionally, there is the most recent rising trend line, which is stil active.

*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 February 24,.2022 - SUpport on the test at $1.930