Technical Analysis (Gold) : XAU/USD 24 August 2020

Forex Technical Analysis : XAUUSD (Gold)

Date : 24 August 2020

Pivot point : 1951.00

Our preference : short positions below 1951.00 with targets at 1921.00 & 1911.00 in extension.

Alternative scenario : above 1951.00 look for further upside with 1965.50 & 1976.00 as targets.

Comment : the RSI has just struck against its neutrality area at 50% and is reversing down.

Supports and resistances :

1976.00 **
1965.50 *
1951.00
1933.65 – Last price
1921.00
1911.00 *
1900.00 **

Warning : This information isn’t a buy-sell signal. Please use this information for the trade guideline.

Source : Trading Central

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