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).
Created by Joshua Hayn