• RES 4: $2600.0 - Round number resistance    
  • RES 3: $2575.4 - 3.236 proj of the Oct 6 - 27 - Nov 13 ‘23 price swing
  • RES 2: $2536.4 - 1.50 proj of the Jul 25 - Aug 2 - Aug 5 price swing 
  • RES 1: $2531.8 - High Aug 20                 
  • PRICE: $2495.6 @ 07:16 BST Sep 3
  • SUP 1: $2483.6 - 20-day EMA
  • SUP 2: $2436.4/2353.2 50-day EMA / Low Jul 25 
  • SUP 3: $2286.9 - Low Jun 7 
  • SUP 4: $2277.4 - Low May 3 and a pivot support

Trend conditions in Gold remain bullish and the recent sideways move marks a pause in the uptrend. The breach of $2483.7, the Jul 17 high, confirmed a resumption of the primary uptrend. Note that MA studies are still in a bull-mode set-up and this highlights a dominant uptrend. The focus is on a climb towards $2536.4 next, a Fibonacci projection. Initial support to watch lies at $2483.6, the 20-day EMA. A pullback would be considered corrective.

GOLD TECHS: Consolidation Marks A Pause In The Uptrend  

Last updated at:Sep-03 06:17By: Taso Anastasiou
  • RES 4: $2600.0 - Round number resistance    
  • RES 3: $2575.4 - 3.236 proj of the Oct 6 - 27 - Nov 13 ‘23 price swing
  • RES 2: $2536.4 - 1.50 proj of the Jul 25 - Aug 2 - Aug 5 price swing 
  • RES 1: $2531.8 - High Aug 20                 
  • PRICE: $2495.6 @ 07:16 BST Sep 3
  • SUP 1: $2483.6 - 20-day EMA
  • SUP 2: $2436.4/2353.2 50-day EMA / Low Jul 25 
  • SUP 3: $2286.9 - Low Jun 7 
  • SUP 4: $2277.4 - Low May 3 and a pivot support

Trend conditions in Gold remain bullish and the recent sideways move marks a pause in the uptrend. The breach of $2483.7, the Jul 17 high, confirmed a resumption of the primary uptrend. Note that MA studies are still in a bull-mode set-up and this highlights a dominant uptrend. The focus is on a climb towards $2536.4 next, a Fibonacci projection. Initial support to watch lies at $2483.6, the 20-day EMA. A pullback would be considered corrective.