06.08.2021 02:17 PMTechnical analysis
Gold has been trading upside in last few hours and there is more potential for the rally till end of the day.
Trading recommendation:
The market regime is still balancing but there is the intraday breakout of the falling channel and V shape reversal, which is sign that buyers taking control from sellers.
Watch for buying opportunities on the pullbacks with the upside target at $1,807 and $1,813.
Stochastic is showing fresh bear cross, which is another sign and confirmation for the downside rotation.
Key support is set at the price of $1,789
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