Gold Trading – Gold Technical Analysis and Price Chart
12 May 2022
GOLD Technical Analysis: Weekly Chart
In the weekly charts, GOLD is trading in an upward 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 1812 and the resistance level is at 1965.
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 1830 and the resistance level is at 1905.
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: