Gold Trying to Break Higher

Gold Trying to Break Higher

2021-08-13 • Updated

Gold H4 Chart 

XAUUSDDaily 13 Aug 2021.png

Gold Daily Chart

XAUUSDH4 13 Aug 2021.png

Gold managed to recover over 50% of its flash crash that occurred at the beginning of this week. After stabilizing above 1725, we issued a long signal at 1730 two days ago, and gold managed to rise all the way to 1759 until this report is released. In the meantime, it would be wise to move the stop to our entry to protect our position from any possible loss, while a weekly close above 1750 and preferably above 1760 would be another bullish sign not only on the short-term but on the medium-term as well.

S3 S2 S1 Pivot R1 R2 R3
1717.85 1734.39 1743.65 1750.93 1760.19 1767.47 1784.01

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Nasdaq 100 (US100): Toward 17750
Nasdaq 100 (US100): Toward 17750

Bullish Scenario: Buy between 17515 and 17600 with TP1: 17681; TP2: 17720 intraday, and TP3: 17750 / 18000 in extension. Bearish Scenario in case of breaking the buying zone: Sell below 17500 with TP1: 17469; TP2: 17421, and TP3: 17358 in extension.

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