FX.co - Analysis of Gold for August 08,.2022 - Breakout of the symmetrical triangle pattern

2022-08-08T11:32:40

Relevance until2022-08-09

Technical analysis:

Analysis of Gold for August 08,.2022 - Breakout of the symmetrical triangle pattern

Gold has been upside this morning and there is the breakout of the symmetrical triangle in the background, which is good sign for the further rally.

Trading recommendation:

Due to the breakout of the symmetrical triangle, I see potential for further rally.

Watch for buying opportunities on the intraday dips with the upside objective at the price of $1.790.

Key support is set at the price of $1.771

*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 08,.2022 - Breakout of the symmetrical triangle pattern