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Gold Technical Analysis – Gold Price Chart – Gold Trading Tips

02 Jun 2022

GOLD Technical Analysis: Weekly Chart

gold technical analysis

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

It is trading below MA (20) but above MA (50) and MA (100).

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

The immediate support is at 1800 and the resistance level is at 1900

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

GOLD Technical Analysis: Daily Chart

gold technical analysis

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

It is trading above MA (20) but below 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 1810 and the resistance level is at 1880

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 1790, TAKE PROFIT AT 1740, AND STOP-LOSS AT 1815