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Gold Futures (Aug 2020)

Two key levels to watch on Aug Gold Futures - 1,775 and 1,765

By FinancialGamblR
  • 1,775 is a near term level that formed over on the 1-hour time frame. Price tested this level on June 30th (yesterday) and held above. If we see a break lower, then this is an indication that buyers remain weak.

  • A more critical level to watch is the 1,765 as this formation originated back in April and has been holding up since. You can see take a look at the 4-hour chart below showing the formation of this level. Every time price has broken above, it quickly trended back below. If this level continues to hold up, we can remain bullish on gold.



snapshot
ForexfuturesGCGoldgoldbuySupply and DemandSupport and ResistanceTrend AnalysisUSDusdshortXAUxauusdbuy
FinancialGamblR

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