Gold Analysis Week 5 – August 2023:

Last Friday, Gold after the news at 21:05 had 1 increase to 1922 (Around the Supply Zone) immediately after that reversed sharply to 1903. But the market has also reached the end of the US session and H4 23h has also closed around 1907 => Confirmation has not been able to break the Demand Zone here.

W1 closed a bullish candlestick but we can see that it is still not really clear when it cannot cover the previous bearish W1 candlestick => The market shows the main consolidation sideway.

Blackman won’t comment on trends this week, citing market uncertainty and the last week of the month is expected to be highly volatile. But in the early days of the week, you can still rely on 2 main obstacles to trading:

+ Buy zone: watch the market return to Demand Zone H4 1907 to open orders. SL 1900, TP1: 1914, TP2: 1920

+ Sell zone: Watch the market proceed to the Supply Zone to divide the main volume into 2 small orders in 1920 and 1926, SL 1932, TP: 1910

Blackman will provide further updates within the Group and in subsequent analyses. Those who have not joined the Group can go to receive information as soon as possible.


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