Forex Trading Library

Gold 02.08.2024

By Rami Abu-Draa On Aug 2, 2024

Gold managed to break above the resistance of 2431-35 and met the target of 2460.

As we see on the chart, Intraday levels show the first support around 2430 and if prices hold above, the chance is still valid for farther advance to test trend resistance of 2482-87. Below 2430, this will be the first weak signal for a drop with supports at 2400 and 2370.

	SUPPORT	RESISTANCE
LEVEL1	2430	2482-87
LEVEL2	2400	2535
LEVEL3	2370	2565

Rami Abu-Draa

Head of Technical Analysis at Orbex, Rami Abu Draa
holds a bachelor's degree in Banking, Finance and Economics. A professional trader and mentor with over 10 years of industry experience, Rami is passionate about sharing his knowledge with Orbex clients from basic to advanced concepts of Technical Analysis, Investment psychology and Investment/Trading methodologies. He is able to combine fundamental and technical principles to deliver a unique perspective on the markets that enables Orbex traders to identify high-probability trading opportunities.

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