Gold Trading – Gold Technical Analysis, Price Chart and News

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 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

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 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:

TRADE SUGGESTION: BUY AT 1824, TAKE PROFIT AT 1910, AND STOPL-LOSS: 1760

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