💡GOLD (XAUUSD) - Weekly Technical Analysis Update

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

While the price is above the support of 1744.50, a resumption of an uptrend is expected.
We make sure when the resistance at 1916.50 breaks.
If the support at 1744.50 is broken, the short-term forecast -resumption of uptrend- will be invalid.
We will close our open trades if the Midterm level 1744.50 is broken.

Technical analysis:

A peak is formed in the daily chart at 1834.10 on 07/15/2021, so more losses to support(s) 1797.55, 1762.55, and minimum to Major Support (1744.50) are 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 46.

Take Profits:

TP1= @1762.55
TP2= @1828.25
TP3= @1875.15
TP4= @1959.30
TP5= @2075. 05

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Clear analysis.👍
+1 Reply
ForecastCity_ME davidgolandak
@davidgolandak, Thank you for your comment. We appreciate it.
Lovely analysis, man!
+1 Reply
ForecastCity_ME carefulOwl22772
@carefulOwl22772, Thank you. We appreciate your support.
Nicely done. Keep it up!
+1 Reply
ForecastCity_ME Mehmetozdemi
@Mehmetozdemi, Thank you for your comment. We appreciate it.
nice analysis sir and now a day monday open up ya down chance
vikramsinghchaprana gold_profit_club