$XAU = Gold: Daily Analysis = 23.08.2021 #GOLD #preciousmetals $GDX $GLD #XAUUSD #GC_F #investing

Gold today made a strong bullish statement by completing a Maribozu candle. It closed above the important levels and I am looking for a rally confirmation tomorrow that is still possible. Let’s explore the details.

Daily Candles and Forecast
Monday’s Maribozu closed above 20 EMA and even above 50 MA. A bullish 8/20 EMA cross also added to the overall picture. Indicators are rather neutral though and I am a bit skeptical about possible continuation tomorrow.
Gold is badly damaged on the monthly and weekly frames and a lot of bullish evens need to happen this week and before August 31. Watching.
Odds: Bullish-Neutral

From the perspective of Elliott Waves, the outlook is also mixed. Different directions on different frames.

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