Gold Technical Analysis, Trade Signals and Price Forecast

Gold Technical Analysis

GOLD Technical Analysis: Weekly Chart

Gold Technical Analysis

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 below zero which indicates bearishness.

The immediate support is at 1795 and the resistance level is at 1875

GOLD is trading in an upward 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 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 1800 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 and the following opportunity can be taken:

TRADE SUGGESTION: SELL AT 1782, TAKE PROFIT AT 1732, AND STOP-LOSS AT 1822

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