Gold AUGUST 2020 has broken through the support line of a Rising Wedge technical chart pattern. Because we have seen it retrace from this position in the past, one should wait for confirmation of the breakout before trading. It has touched this line twice in the last 2 days and suggests a target line to be around 1723.3332 within the next 6 hours.
Gold AUGUST 2020 – breach of a trending support line that has been tested at least twice before.
