Forex Trading Library

Gold – 26.08.2024

Technical Analysis
By Rami Abu-Draa
Gold – 26.08.2024
0 28

Gold tested the support trend at 2468-70 and held prices above.

The market managed to advance above the intraday resistance of 2500-05 which could maintain an advance toward 2535 and 2555.

Prices now face supports around 2515 and 2500.

Below 2500 more of a drop toward 2470-75 is likely.

SUPPORT RESISTANCE
LEVEL1 2515 2530-35
LEVEL2 2500-05 2555
LEVEL3 2468-70 2575

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Rami Abu-Draa

Head of Technical Analysis at Orbex, Rami Abu Draa
holds a bachelor's degree in Banking, Finance and Economics. A professional trader and mentor with over 10 years of industry experience, Rami is passionate about sharing his knowledge with Orbex clients from basic to advanced concepts of Technical Analysis, Investment psychology and Investment/Trading methodologies. He is able to combine fundamental and technical principles to deliver a unique perspective on the markets that enables Orbex traders to identify high-probability trading opportunities.

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