Forex Trading Library

Gold – 19.08.2024

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Gold broke above the 2475-95 resistance last week and hit a 2510 high so far.
As we see on the chart, the market is facing a support zone around 2469-79. If prices remain above this zone then the rally will sustain with resistance around 2510 and 2535.
Below 2469 more of a drop will be expected with support around 2430-40 which could re-activate the advance wave again toward 2510.
Below 2430 more of a drop toward 2380-85 could hit the market.

SUPPORT RESISTANCE
LEVEL1 2469-79 2510
LEVEL2 2430-40 2535
LEVEL3 2380-85 2575

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