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CMS Daily Market Report 2nd August 2022

 

Gold decreased to the 1758 range on the first day of the week, but with the pressure of buyers in this range, it grew by 0.33% at the end of the day and hit above the 1765 resistance range. Now, according to the price position in the 4-hour chart, any drop in the price towards the 1766 range is a buying opportunity, and the path for the price increase towards the 1788 range is available.

Currently, according to the price position in the weekly and daily chart, the range of 20.63 is the most important leading resistance range and the possible reaction of sellers in this range is important. On the other hand, according to the upward movement of silver last week, buying in the range of 19.90 is a low-risk option and there is a possibility of a temporary price increase towards the range of 20.63.

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