GOLD Technical Analysis & Trading Suggestions

GOLD Technical Analysis

GOLD Price Technical Analysis: Weekly Chart

GOLD Technical Analysis

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

Gold is near its crucial support of 20-days SMA. If it breaks this support, it will possibly test the 50-days SMA level.

Gold will follow an uptrend in the coming weeks.

The  Gold crucial support level is at 1,806.14 which is near 20 days SMA as of now. There are no signs of a bearish trend.

Gold is trading Above  All the moving averages. RSI which is 57.24 suggests Gold to move in  a Positive  Direction

Bulls have their tight grip on Gold.

TRADE SIGNAL-  Gold– Buy: 1,915.30, TARGET:-1,945.40; STOP LOSS:- 1,900.30.

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