. Commodity Analysis - Gold Technical Analysis - 21 September 2022

Commodity Analysis – Gold Technical Analysis – 21 September 2022

21 Sep 2022

GOLD Technical Analysis: Weekly Chart

Gold Technical Analysis

In the weekly charts, Gold is trading in a down channel. Gold is currently trading below all SMA.

RSI is in the selling zone which indicates bearishness. MACD is currently below zero which indicates bearishness.

Its immediate support is 1630.00 the resistance level is at 1700.00

Gold will trade in a down channel until there is a trend reversal. 

GOLD Technical Analysis: Daily Chart

Gold Technical Analysis

In the daily charts, Gold is trading in a down channel. Gold is currently trading below all SMA.

RSI is in the selling zone which indicates bearishness. MACD is currently below zero which indicates bearishness.

Its immediate support is 1635.00 the resistance level is at 1690.00

Gold will trade in a down channel until there is a trend reversal.   

How to Trade GOLD this Week:

Gold will follow the downtrend until its trend reversal. So, remain bearish on Gold

TRADE SUGGESTION- SELL AT 1672.54, TAKE PROFIT AT 1630.00 AND STOP LOSS AT 1690.00