Daily Gold Spot Analysis

wealthoptions

Newbie
3 0
XAUUSD 08/26/2020
Monday’s American session. The price has regained to $1926, consolidating in a tight range in Asia keeping the buyers hopeful.
Therefore, the spot awaits a fresh impetus to break through the next barrier at $1936. The bulls have to take on the critical resistance at $1953. A daily closing above the latter will negate the near-term bearish bias in the spot.
Alternatively, a break below the 1926 support could open floors towards the $1914-1912 region, the confluence of August 25 and 21 lows. Sellers will aim for the $1900 mark should the above support yields in.
It’s also worth noting that the spot has formed a Doji candle on the daily chart after falling for the third straight day on Tuesday. This could imply that the bears are losing its grip, although Powell’s could be the key decider for the bullion’s next price direction.
Buy Above 1936
Sell Below 1914
 

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mosespoole

Newbie
4 1
As gold has maintained its value over the years and has served as a hedge against inflation and the erosion of major currencies, I believe that it is great for making investments.
 

Mogor

Junior member
19 2
Frankly speaking, I thought for a long time that this asset is not very worthy of attention, because I rarely found any particularly profitable situations here, respectively, I thought that I should not spend time on it, but over time (or more precisely, when I gained a little more experience) I became wonderful here quite strong patterns and interesting levels, so I began to include it in the work and began to see new perspectives. So it's cool that you use it too and I think it can make your work more promising. It also correlates well with many other assets, which allows you to create a promising business plan that you can use on a long-term basis.
 
 
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