FX.co - Analysis of Gold for August 25,.2022 - Buyers in control, potential for first major objective

25 August 2022 at 8:28AM (UTC+0)

Relevance until26 August 2022 at 8:28AM (UTC+0)

Technical analysis:

Analysis of Gold for August 25,.2022 - Buyers in control, potential for first major objective

Gold has been trading upside as I expected. The price is heeding towards first major upside objective.

Trading recommendation:

Due to the strong upside momentum and no signs for the reversal, I still see further rise on Gold.

Watch for potential buying opportunities on the intraday dips with the upside objective at the price of $1.760 and $1.780.

MACD oscillator is showing fresh bull momentum, which is sign that buyers are in control.

Key support is set at the price of $1.750

*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 25,.2022 - Buyers in control, potential for first major objective