Gold XAU/USD Analysis Wednesday 21 August 24
Hello,
We have had a smallish correction so far in the last 24 hours in the Gold-price. The USDX shows some temporary strength the past 8 hour or during the Oceania (New Zealand & Australia) and the Asian session during Wednesday.
The Silver price has faired better during these Oceania & Asian sessions.
2500 level is very key psychological & key support. It seems to be holding well as I write this article. I want to see support at 2507 & we are currently almost there.
2507 and support there would be on the 50 EMA in the 1 hour timeframe. I find the 50 EMA on the 1 hour to be a good yardstick of where the Gold price may go next.
See charts above.
* Don't rely solely on my investment advice, conduct your own research & form multiple sources.
