GOLD Technical Analysis

GOLD Technical Analysis

GOLD Technical Analysis: Weekly Chart

In the weekly chart, GOLD is trading above its previous upward channel.

It is trading below MA (5) but above MA (20) and MA (50).

The immediate support is 1878 and the resistance level is at 1968.

GOLD is trading above its previous upward channel, which may be a breakout.

GOLD Technical Analysis: Daily Chart

In the daily charts, GOLD is trading within a descending triangle.

It is trading above MA (5) and MA (20) but below MA (50).

The immediate support is 1910 and the resistance level is at 1942.

GOLD is trading within a descending triangle until there is a breakdown.

How to trade GOLD this week:

GOLD is trading after breaking out of its previous upward channel and the following opportunity can be taken:

TRADE SUGGESTION: BUY AT 1970, TAKE PROFIT AT 2016 AND STOP LOSS AT 1928

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