Xauusd technical analysis on dated 30-8-2022

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In the markets, gold is traditionally seen as a safe haven asset. This is because it doesn’t experience the same volatility as other assets, and it has been a reliable store of value over the years.

 

When analyzing gold using technical analysis, you can use indicators like the Relative Strength Index (RSI) to determine whether the market is overbought or oversold. You can also look at price trends to see if there’s any indication that the price is about to change direction.

 

If you’re looking to invest in gold, then it’s important to keep an eye on these indicators so that you can make informed decisions about when and how to buy. Please follow the instructions for xauusd tradingview-

 

  • A sequence of daily lower lows and highs has been posted.
  • We can see no technical reason for a change of trend.
  • There is scope for mild buying at the open but gains should be limited.
  • Resistance is located at 1743.00 and should cap gains to this area.
  • We look to sell rallies

 

  • Today’s Trend: Bearish
  • Recommendations: Sell/Sell limit @ 1742     
  • Target/TP: 1720/1710
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