Morning Update on Gold Technical Movements - August 21, 2024
Greetings, I am Mohammed Qais Abdulghani, a financial markets expert, bringing you today’s morning update on gold’s technical movements for the short term, specifically for Wednesday, August 21, 2024.
Gold Analysis:
On the short-term timeframe, specifically the 15-minute chart, we can see that gold is attempting to break through the $2,515 level, which coincides with the 55-day moving average, adding significant importance to this resistance. If the prices manage to achieve a confirmed breakout above this level, we could witness a rise targeting the $2,550 level in the short term, and potentially reaching $2,600 in the medium term.
However, if the prices fail to break through the $2,515 level, we may see the prices revert to a sideways movement, with a corrective decline targeting the $2,480 level.
Additionally, it’s important to note that there are critical U.S. dollar-related data releases scheduled for 5:30 PM Mecca time, including the U.S. crude oil inventory report. Furthermore, the markets are eagerly awaiting a very significant event at 9:00 PM Mecca time: the release of the Federal Open Market Committee (FOMC) meeting minutes, which might provide insights into the recent inflation data.
That concludes this segment. Thank you for your attention, and I wish you all the best. Stay safe.
Greetings, I am Mohammed Qais Abdulghani, a financial markets expert, bringing you today’s morning update on gold’s technical movements for the short term, specifically for Wednesday, August 21, 2024.
Gold Analysis:
On the short-term timeframe, specifically the 15-minute chart, we can see that gold is attempting to break through the $2,515 level, which coincides with the 55-day moving average, adding significant importance to this resistance. If the prices manage to achieve a confirmed breakout above this level, we could witness a rise targeting the $2,550 level in the short term, and potentially reaching $2,600 in the medium term.
However, if the prices fail to break through the $2,515 level, we may see the prices revert to a sideways movement, with a corrective decline targeting the $2,480 level.
Additionally, it’s important to note that there are critical U.S. dollar-related data releases scheduled for 5:30 PM Mecca time, including the U.S. crude oil inventory report. Furthermore, the markets are eagerly awaiting a very significant event at 9:00 PM Mecca time: the release of the Federal Open Market Committee (FOMC) meeting minutes, which might provide insights into the recent inflation data.
That concludes this segment. Thank you for your attention, and I wish you all the best. Stay safe.
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انضم إلى قناتي على تيليجرام لتحصل على أبرز التحليلات والتقارير اليومية مباشرة:
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تابعني من خلال الرابط التالي :
msqaisfx.com/about-us
t.me/msqaisfx91
تابعني من خلال الرابط التالي :
msqaisfx.com/about-us
Thông báo miễn trừ trách nhiệm
Thông tin và các ấn phẩm này không nhằm mục đích, và không cấu thành, lời khuyên hoặc khuyến nghị về tài chính, đầu tư, giao dịch hay các loại khác do TradingView cung cấp hoặc xác nhận. Đọc thêm tại Điều khoản Sử dụng.