Blake Morrow’s Chart of The Day – August 6th 2021
Gold is in a strong and narrow $45 point range. Support is at the 1790 level and resistance is at the 1835 level. We have been in this range for the last month since the beginning of July. The great news is a break of either the range highs or lows will create a $40+ point move in either direction. As traders, just knowing where the key levels is 1.2 the battle. The good news is we know them heading into one of the most important data points for the month tomorrow, the Non Farm Payrolls jobs report.