#XAUConfirming the peak at 2531, adjustment or further increase?
Gold analysis on August 21, 2024:
After forming a peak in the 2526 - 2530 region as predicted, gold has experienced a correction to the 2500 area and then rebounded. This is not yet the point enough to create a strong upward trend for gold. The possibility of a deep decline to create momentum is still very high. Prices of 2450 or even 2435 are still expected.
The trading trend today remains SELL.
Key price areas to note:
SELL zone: 2520 - 2525 and 2529 - 2533;
BUY zone: 2502 - 2507 and 2490 - 2495.
Recommended orders:
Plan 1: SELL XAUUSD zone 2521 - 2523
SL 2526
TP 2518 - 2510 - 2500 - 2490.
Plan 2: SELL XAUUSD zone 2513 - 2515
SL 2518
TP 2510 - 2500 - 2490 - 2480.
Plan 3: BUY XAUUSD zone 2490 - 2492
SL 2486
TP 2495 - 2500 - 2510 - 2520.
After forming a peak in the 2526 - 2530 region as predicted, gold has experienced a correction to the 2500 area and then rebounded. This is not yet the point enough to create a strong upward trend for gold. The possibility of a deep decline to create momentum is still very high. Prices of 2450 or even 2435 are still expected.
The trading trend today remains SELL.
Key price areas to note:
SELL zone: 2520 - 2525 and 2529 - 2533;
BUY zone: 2502 - 2507 and 2490 - 2495.
Recommended orders:
Plan 1: SELL XAUUSD zone 2521 - 2523
SL 2526
TP 2518 - 2510 - 2500 - 2490.
Plan 2: SELL XAUUSD zone 2513 - 2515
SL 2518
TP 2510 - 2500 - 2490 - 2480.
Plan 3: BUY XAUUSD zone 2490 - 2492
SL 2486
TP 2495 - 2500 - 2510 - 2520.
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