Gold Trend 04/08

4 ส.ค. 2022

Gold traded in a range-bound yesterday. The price touched the low at 1754 early in the Asian session, and the climb continued until the price reached the day-high at 1772 at the US session opening. The day fluctuated in a USD 18 range, with the price slightly up by USD5.

The overall structure in the 1-hour chart hasn't changed much as the uptrend channel is still dominating the S-T trend. The price behaved quite well within the 1750-72 range yesterday. The market is now shifting its focus toward the US employment figures, expecting the price to remain range-bound between 1755-80.



The reversal signal mentioned yesterday remains in effect. Unless the price closes above 1773 in the next few trading days, the price should turn south soon.

S-T Resistances:
1785-87
1780
1770-73

Market price: 1770

S-T Supports:
1765
1760
1755

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