FX.co - Analysis of Gold for July 20,.2021 - V shape reversal and potential for the rally towards $1.825

2021-07-20T11:06:48

Relevance until2021-07-21

Technical analysis:

Analysis of Gold for July 20,.2021 - V shape reversal and potential for the rally towards $1.825

Gold has been trading upside since yesterday's late EU session. I saw V shape reversal yesterday and continuation al pattern today.

Trading recommendation:

Watch for potential buying opportunities on the intraday dips wit the upside targets at the price of $1,825 and $1,833.

RSI oscillator is showing positive reading above 50, which is good sign for further rally....

Support is set at the price of $1,811

*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 20,.2021 - V shape reversal and potential for the rally towards $1.825