GOLD FORECAST 31/07-04/08/2023

Current Kitco gold price: $1,959.4/oz. Experts diverge: possible dip (Cooper, Standard Chartered) vs $2,000/oz target (O'Connell, StoneX).

TECHNICALS:

Key supports: $1961 (H4 EMA 34), $1944 & $1940 (Daily EMA 89,100). Crucial: $1905 (Daily EMA 200), $1951 (H4).

STRATEGIES:

SELL around $1960-$1965 or $1985-$1990. SL: $1969 or $1994. TP1, TP2, TP3: $1950, $1945, $1940 or $1980, $1970, $1960.

BUY around $1947-$1952 or $1905-$1910 (DCA). SL: $1942 or $1897. TP1, TP2, TP3: $1960, $1965, $1970 or $1920, $1930, $1940.

CAPITAL MANAGEMENT: Limit orders to 1% of total capital, max 5% in 10 nearest prices. Always set a stop loss."

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