Gold Daily Analysis 03.08.2022
Gold is in uptrend and tested the support at 1756 after making higher high 1788 and getting rejected from the upper boundary of long term bearish value zone (yellow).
The present value zone is bullish (white) and the present china war can help gold to continue its bullish pressure as seen in case of Russia.
However technical analysis is still not in favor of bulls and we can expect a reversal when NFP news comes. So lets be patient and see if Gold can break the 1790 level or the support below 1756 level.
For today I feel Gold will test the 1780 level. So we can see for buying.
BUY 1768 SL 1760 TP 1782
SELL 1788 SL 1798 TP 1768
The present value zone is bullish (white) and the present china war can help gold to continue its bullish pressure as seen in case of Russia.
However technical analysis is still not in favor of bulls and we can expect a reversal when NFP news comes. So lets be patient and see if Gold can break the 1790 level or the support below 1756 level.
For today I feel Gold will test the 1780 level. So we can see for buying.
BUY 1768 SL 1760 TP 1782
SELL 1788 SL 1798 TP 1768
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