FX.co - Analysis of Gold for July 19, 2023 - Important pivot level on the test

2023-07-19T07:51:20

Relevance until2023-07-20

Technical analysis:

Analysis of Gold for July 19, 2023 - Important pivot level on the test

Gold has been trading upside yesterday and I found that key resistance cluster at hte price of $1.982 is on the test today.

In case of the rejection of the key resistance at $1.982, I see potential for the rotation back downside towards $1.960

In case of the breakout of the resistance at $1.982, I see potential for the further rally towards $2.000

*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 July 19, 2023 - Important pivot level on the test