Gold Trading – Gold Technical Analysis, Price Chart and News
05 May 2022
GOLD Technical Analysis: Weekly Chart
In the weekly charts, GOLD is trading in an upward channel.
It is trading above all SMAs: MA (20), MA (50), and MA (100).
RSI is in buying zone which indicates bullishness. MACD is trading above zero which indicates bullishness.
The immediate support is at 1818 and the resistance level is at 1988.
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 1878 and the resistance level is at 1924.
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. Since the price is trading within an upward channel, the following opportunity can be taken when price approaches the lower channel: