Market Analysis of XAUUSD on Monday 12 August 2024

2024-08-12 15:23Fonte:BtcDana

Technical Analysis:
The gold order flow remains bullish, so we will hold off on taking any sell-side trades for now. We need confirmation before considering short trades. There is minor resistance around the 2440 level, but given the current price action, it appears likely that we will drift towards 2450. Therefore, we'll wait for the market to confirm before entering any positions. Our bias remains bullish, and we view dips as buying opportunities. Until then, we’ll stay in cash and wait for better setups.

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