Daily Technical Report 13-8-2024

Technical Analysis

By Shady Fouad On Aug 13, 2024

GOLD

Gold rebounded from near the support area of $2418 to the upside, reaching and surpassing its targets. The prices have now reached the resistance area at $2478. However, it is likely that selling pressure will emerge in this area, limiting the pace of the upward movement.

Support	2453	2435	2418
Resistance	2478	2500	2530

USOIL

Oil broke above the $76.50 level, reaching the resistance area at $78.25. However, it is likely that selling pressure will emerge in this area, limiting the pace of the upward movement.

Support	76.50	75	71.50
Resistance	78.25	79.30	81

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Shady Fouad

Shady Fouad is a technical analyst at LDN Company
Shady's strategic vision in the currency markets is reinforced by more than fifteen years of trading experience, which enables him to blend economic and technical analyzes with high efficiency, and find the best investment ideas for traders.

Oil extends gains for fifth straight session

Daily Technical Report 14-8-2024

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