Gold Analysis 08/08/2023

Gold yesterday went as expected when it reached 1934-1936 bounced back. However, when it came to around TP1, Gold reversed deeply downwards to test 1930 again, and finally D1 closed the bearish candlestick, retreating long legs at 1936.8 =>This shows that buyers are well defending the 1930 Demand Zone.

Blackman still maintains that the gold market will rise this week so there won’t be much to say, Blackman continues to watch around 1931-1934 with targets targeting 1944 and 1949 respectively.

Command reference:

Buy 1931- 1934 (divide volume into 2 orders)

SL 1924

TP1: 1944

TP2: 1949


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