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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 currently above zero which indicates bullishness.

The immediate support is at 1836 and the resistance level is at 1990.

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 below zero which indicates bearishness.

The immediate support is at 1852 and the resistance level is at 1910.

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. The following opportunity can be taken within its upward channel:

TRADE SUGGESTION: BUY AT 1818, TAKE PROFIT AT 1972 AND STOP LOSS AT 1716

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