Gold Trend 17/08
Gold stayed in a tight range yesterday. The day began at 1778; throughout the trading day, the price traded between 1770-75 after it touched the day-high early in the Asian session. The market was quiet, with the day ending at 1775.
The bearish move slowed down yesterday, and the price now supports at 1770-73. Await for the Fed. Minutes, expect the price to remain in the 1770-85 tight range today.
Gold is now settling below the 1780-87 resistance zone. The trend stays bearish for now, with the downside target remaining at 1758(4) & the 20-day MA(5).
S-T Resistances:
1790-94
1785
1780
Market price: 1775
S-T Supports:
1775-73
1770
1765
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P. To
The bearish move slowed down yesterday, and the price now supports at 1770-73. Await for the Fed. Minutes, expect the price to remain in the 1770-85 tight range today.
Gold is now settling below the 1780-87 resistance zone. The trend stays bearish for now, with the downside target remaining at 1758(4) & the 20-day MA(5).
S-T Resistances:
1790-94
1785
1780
Market price: 1775
S-T Supports:
1775-73
1770
1765
If you like our work, kindly give our team a thumbs up. Feel free to leave a comment; let us know what you think!
P. To
P. To @ 1uptick Analytics
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