XAUUSD/GOLD TODAY 22/08/23

22 באוג׳ 2023

GOLD is still within the range of 1888 - 1897. The price, which was continuously pressured by the MA8, has finally reversed and crossed both the MA8 and MA20. Only the resistance at 1897 is holding back Loco's efforts for a temporary reversal. It's likely that GOLD will remain sideways until the Flash Manufacturing PMI tomorrow night. However, given the increasingly erratic MA Pattern, it's better to avoid entering positions today.

[Position to consider]
Due to the identified weakening trend, let's refrain from trading today.

R3 1940.521
R2 1931.641
R1 1910.629
PV 1896.393
S1 1888.452
S2 1882.693
S3 1870.758