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FX.co ★ Analysis of Gold for August 24,.2022 - Breakout of the bull flag pattern

Analysis of Gold for August 24,.2022 - Breakout of the bull flag pattern

Technical analysis:

Analysis of Gold for August 24,.2022 - Breakout of the bull flag pattern

Gold has been trading upside today and I found breakout of the bull flag pattern, which is good confirmation for further rally.

Trading recommendation:

Due to the breakout of the bull flag pattern today, I see potential for the higher price and test of upside references.

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Watch for potential buying opportunities on the intraday dips with the upside objectives at $1.767 and $1.780.

MACD oscillator is showing fresh upside money flow, which is good sign for further rally.

Intraday support is set at the price of $1.744

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