💡GOLD (XAUUSD) - Weekly Technical Analysis Update

FX:XAUUSD   Gold Spot / U.S. Dollar
Midterm forecast:

While the price is above the support of 1676.70, a resumption of an uptrend is expected.
We make sure when the resistance at 1916.50 breaks.
If the support at 1676.70 is broken, the short-term forecast -resumption of uptrend- will be invalid.
Technical analysis:

A trough is formed in the daily chart at 1684.50 on 08/09/2021, so more gains to resistance(s) 1789.55, 1828.25, 1848.50, and maximum to Major Resistance (1916.50) is expected.
Price is below WEMA21; if the price rises more, this line can act as dynamic resistance against more gains.
The relative strength index ( RSI ) is 47.

Take Profits:
TP1= @ 1762.55
TP2= @ 1789.55
TP3= @ 1828.25
TP4= @ 1875.15
TP5= @ 1916.50
TP6= @ 2075. 05

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This looks great, I trust it's gonna work
+1 Reply
@lottoabbey, Thank you for your comment. We appreciate it.
Very nice chart.
+1 Reply
@Sophi2018, We appreciate your comment.
Clear, and detailed analysis. 👍 Thanks!
+1 Reply
ForecastCity_ME DenizKilicDeniz
@DenizKilicDeniz, You're welcome! Thank you as well for your comment.
Only uptrend!! All bull no bear in short term!!
+1 Reply
ForecastCity_ME manidaridada
@manidaridada, Thank you for your comment.
Any change?? Some short selling seen
Yes, Today and tommorow gold is crossing the uptrend 1820usd and ongoing more,