Daily Market Analysis 23 Aug 2022

Daily Market Analysis 23 Aug 2022

  • Market News
  • Daily Market News
  • 2022, 23 August

GOLD

Technical Outlook

XAU/USD takes a turnaround by facing a heavy resistance at ($1,807) levels. The price gave a breakdown of a bearish “Head & Shoulder” pattern, along with a break of 200 EMA, showing more downside to come in coming days. If price closes below ($1,729), then we can expect a good fall. 

Technical Indicators
Action
RSI (43)
SELL
Oscillator (09)
SELL
MACD (Below Midline)
SELL
200 EMA (1839)
SELL


Strategy


Scenario 1
Scenario 2
Action
Sell
Sell
Entry
$1,735
$1,740
Target 1
$1,725
$1,730
Target 2
$1,715
$1,720
Stop Loss
$1,745
$1,750


Key Signposts

No key data

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