Gold Technical Analysis Aug 16, 2023
The Gold declined 0.29% against the USD on Tuesday and closed at 1901.60. Today in the European session, while the Gold technical Analysis Aug 16, 2023, is prepared at 5:15 GMT, the XAU/USD is trading at 1905.50, which is 0.21% higher than Yesterday’s close.
The Gold is expected to find support at 1900.00, and a fall-through could take it to the next support level of 1893.00. The pair is expected to find its first resistance at 1910.00, and a rise-through could take it to the next resistance level of 1915.00. Today’s expected trading range is between 1888.00 support and 1920.00 resistance.
The expected trend for today is Bearish
Important support levels:
Support 1: 1900.00
Support 2: 1893.00
Support 3: 1888.00
Important resistance levels:
Resistance 1: 1910.00
Resistance 2: 1915.00
Resistance 3: 1920.00
Crude Oil Technical Analysis Aug 16, 2023