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GOLD 5.8.2024
General trend: conditional upward.
Expected scenario:
The pair is approaching an uptrend line as well as the $2,380 level which is a strong support. The price is likely to rebound upwards to target 2424, provided that trading continues above the aforementioned levels.
Alternative scenario:
The scenario turns bearish by breaking the ascending trend line to target $2,353.
The most important levels
resistance:
2424 - 2460
support:
2380 - 2353
Disclosure of risk: Point Trader Group will not accept liability for any loss or damage as a result of reliance on the provided information.
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