Gold Technical Analysis and How To Invest in Gold

Gold Technical Analysis

GOLD Technical Analysis: Weekly Chart

How To Invest in Gold

In the weekly charts, GOLD is trading in a downward channel.

It is trading below all SMAs: MA (20), MA (50), and MA (100).

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

The immediate support is at 1798 and the resistance level is at 1874

GOLD is trading in a downward channel until there is a trend reversal.

GOLD Technical Analysis: Daily Chart

How To Invest in Gold

In the daily charts, GOLD is trading in a downward channel.

It is trading below all SMAs: MA (20), MA (50), and MA (100).

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

The immediate support is at 1802 and the resistance level is at 1840

GOLD is trading in a downward channel until there is a trend reversal.

How to trade GOLD this week:

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

TRADE SUGGESTION: SELL AT 1784, TAKE PROFIT AT 1698, AND STOP-LOSS AT 1848

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