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25.08.202310:26 Analisis Forex & Kajian: Analysis of Gold for August 25, 2023 - Rejection of the support and potential for the rally

Technical analysis:

Exchange Rates 25.08.2023 analysis

Gold has been trading downside in the background but I found rejection fo the support this morning, which is strong sign for the further rally.

Due to the test-reject of the support and the oversold condition, I see potential for the further rally towards upside reference.

Upside objective is set at the price of $1.921

Stochastic oscillator is showing fresh bull cross and oversold condition , which is another good sign for the further upside movement.

Key support is set at the price of $1.911-$1.908

* Analisis pasaran yang disiarkan di sini adalah bertujuan untuk meningkatkan kesedaran anda, tetapi tidak untuk memberi arahan untuk membuat perdagangan.

Petar Jacimovic,
Analytical expert of InstaSpot
© 2007-2025
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