Gold Trend 19/08
Gold continued to wander near the weekly high yesterday. The price has touched the day-high at 1794 early in the Asian session and it began its way down. The day ended at 1787, up slightly by USD 1.
Gold is still in a period of consolidation in the 1-hour chart after it has been rejected by 1793. The price has broken the S-T support line(1) early in the Asian session today. In the past 48 hours, a new downtrend channel(3) has been formed. Unless the selling momentum can accelerate and breakout from the bottom of the channel(3) touching 1760 in S-T, otherwise the upward flag(4) will be the major pattern under development on the 1-hour chart, with the key breakout resistance at 1790-93(5).
The price has been rejecting by 1790 on the daily chart. Range-bound is now trading between 1760-90 with major resistance at 1797(6).
S-T Resistances:
1793-97
1790
1780
Market price: 1778
Major Supports:
1770-72
1760
1755
If you like our analysis, please give our team a thumbs up. Feel free to leave a comment, let us know what you think!
P. To
Gold is still in a period of consolidation in the 1-hour chart after it has been rejected by 1793. The price has broken the S-T support line(1) early in the Asian session today. In the past 48 hours, a new downtrend channel(3) has been formed. Unless the selling momentum can accelerate and breakout from the bottom of the channel(3) touching 1760 in S-T, otherwise the upward flag(4) will be the major pattern under development on the 1-hour chart, with the key breakout resistance at 1790-93(5).
The price has been rejecting by 1790 on the daily chart. Range-bound is now trading between 1760-90 with major resistance at 1797(6).
S-T Resistances:
1793-97
1790
1780
Market price: 1778
Major Supports:
1770-72
1760
1755
If you like our analysis, please give our team a thumbs up. Feel free to leave a comment, let us know what you think!
P. To
P. To @ 1uptick Analytics
Bài đăng liên quan
Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.