Gold – Corrective Price Action Structure At Support | Aug 6

NOTE: NFP is tomorrow so be mindful of the normal event risk parameters.

Gold – Corrective Structure Near Key Support Still Holding (4hr chart)
After getting hammered in the earlier part of this month, Gold has formed a corrective price action structure in the last couple weeks parked on a major support level around 1075.

The Range highs come in between 1100 and 1115 so we have our defined structure for now. A breakdown below the corrective range lows and key support level would increase the risk to the downside and put 1150 under attack. A break above the range would put 1130 and 1142 into focus.


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