Gold Technical Analysis, Price Chart and Market News
19 May 2022
GOLD Technical Analysis: Weekly Chart
In the weekly charts, GOLD is trading in an upward 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 above zero which indicates bullishness.
The immediate support is at 1762 and the resistance level is at 1972
GOLD is trading in an upward channel until there is a trend reversal.
GOLD Technical Analysis: Daily Chart
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 1785 and the resistance level is at 1850
GOLD is trading in a downward channel until there is a trend reversal.
How to trade GOLD this week:
GOLD is trading in an upward channel until there is a trend reversal. If the trend reverses, the following opportunity can be taken: