Analysis of Gold for August 31, 2023 – Buyers in control and potential for the further rally
August 31, 2023 8:27 am
Technical analysis:
Gold has been trading upside and the market broke resistance cluster at $1.945 with the rising in momentum. Which is sign that there is change for the further upside continuation.
Due to the strong upisde momentum and no major signs for the reversal, I see potential for the further growth towards upside references.
Upside objectives are set at the price of $1.969 and $1.982
MACD oscillator is showing fresh upisde momentum in the background, which is good sign for the further growth.
Intraday support is set at the price of $1.937-$1.934
The material has been provided by InstaForex Company – www.instaforex.com
Technical analysis:
Gold has been trading upside and the market broke resistance cluster at $1.945 with the rising in momentum. Which is sign that there is change for the further upside continuation.
Due to the strong upisde momentum and no major signs for the reversal, I see potential for the further growth towards upside references.
Upside objectives are set at the price of $1.969 and $1.982
MACD oscillator is showing fresh upisde momentum in the background, which is good sign for the further growth.
Intraday support is set at the price of $1.937-$1.934
The material has been provided by InstaForex Company – www.instaforex.com
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