FX.co - Analysis of Gold for August 19,.2021 - Resistance at $1.790 on the test

2021-08-19T11:39:02

Relevance until2021-08-20

Technical analysis:

Analysis of Gold for August 19,.2021 - Resistance at $1.790 on the test

Gold has been trading upside today but the main resistance at the price of $1,790 is on the test. There is potential for the downside rotation.

Trading recommendation:

Watch for selling opportunities around main resistance at $1,790 with downside targets at $1,778.

Stochastic is on extreme reading but with no evidence for the reversal...

*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 August 19,.2021 - Resistance at $1.790 on the test