Commodity Trading: Gold Technical Analysis, News & Trade Signals

Commodity Trading: Gold Technical Analysis, News & Trade Signals

GOLD Technical Analysis

GOLD Technical Analysis: Weekly Chart

Technical Analysis of Gold Future

In the weekly charts, GOLD is trading in an upward channel.

It is trading above all SMAs: MA (5), MA (20), and MA (50).

The immediate support is at 1912 and the resistance level is at 1992.

GOLD is trading in an upward channel until there is a trend reversal.

GOLD Technical Analysis: Daily Chart

Technical Analysis of Gold Future

In the daily charts, GOLD is trading below its previous upward channel.

It is trading below MA (5) but above MA (20) and MA (50).

The immediate support is at 1928 and the resistance level is at 1960.

GOLD is trading outside and below its previous upward channel.

How to trade GOLD this week:

GOLD is trading in an upward channel until there is a trend reversal and the following opportunity can be taken:

TRADE SUGGESTION: BUY AT 1994, TAKE PROFIT AT 2046 AND STOP LOSS AT 1954

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