Technical analysis of GOLD 07/16/2021

Gold, as part of the upward correction, found resistance at the level of 1834.00 (50% Fib), while fixing above (MA200) on the H4 timeframe. Now the quotes are in the area of 1826.50.
If the resistance at 1834.00 (50% Fib) is broken, then the next key resistance will be the area of 1852.90 (61.8% Fib).
The nearest support is the level 1814.40, and if it is overcome, most likely it will be a subsequent test of the key support area at 1790.64 (MA100).

GOLDH4 (1)

Created by Joshua Hayn

VN:F [1.9.22_1171]
Rating: 5.0/5 (1 vote cast)
5.0 out of 5 based on 1 rating

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>