Short-Term Technical Analysis for Gold-6/8/2024
Hello and welcome. This is Mohammed Qais, a financial markets expert, bringing you the morning update on the short-term technical movements of gold for Tuesday, August 6, 2024.
Currently, gold is attempting to end its downward corrective wave, holding above the key support level at $2,400. However, gold will not be able to fully recover and regain its positive momentum unless it successfully breaks through the $2,420 level on a 15-minute timeframe. If it does, we could witness a strong upward movement in the coming hours, targeting the $2,450 level and potentially reaching $2,490 in upcoming trading sessions.
It is important to note that this optimistic scenario for gold will remain valid as long as prices stay above the psychological barrier at $2,400.
Currently, gold is attempting to end its downward corrective wave, holding above the key support level at $2,400. However, gold will not be able to fully recover and regain its positive momentum unless it successfully breaks through the $2,420 level on a 15-minute timeframe. If it does, we could witness a strong upward movement in the coming hours, targeting the $2,450 level and potentially reaching $2,490 in upcoming trading sessions.
It is important to note that this optimistic scenario for gold will remain valid as long as prices stay above the psychological barrier at $2,400.
يمكنك الاشتراك في عضوية نخبة المتداولين من خلال الرابط التالي :
youtube.com/channel/UCtIKbrKjyjjbFWwrw9sCKpQ/join
youtube.com/channel/UCtIKbrKjyjjbFWwrw9sCKpQ/join
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.