💡GOLD (XAUUSD) - Weekly Technical Analysis Update
Midterm forecast:
While the price is above the support 1762.98, resumption of uptrend is expected.
We make sure when the resistance at 1874.88 breaks.
If the support at 1762.98 is broken, the short-term forecast -resumption of uptrend- will be invalid.
Technical analysis:
A trough is formed in daily chart at 1752.85 on 12/15/2021, so more gains to resistance(s) 1804.23, 1814.96, 1834.65 and maximum to Major Resistance (1874.88) is expected.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index (RSI) is 52.
Take Profits:
1790.08
1804.23
1814.96
1834.65
1874.88
1959.30
2000.00
2075.05
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While the price is above the support 1762.98, resumption of uptrend is expected.
We make sure when the resistance at 1874.88 breaks.
If the support at 1762.98 is broken, the short-term forecast -resumption of uptrend- will be invalid.
Technical analysis:
A trough is formed in daily chart at 1752.85 on 12/15/2021, so more gains to resistance(s) 1804.23, 1814.96, 1834.65 and maximum to Major Resistance (1874.88) is expected.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index (RSI) is 52.
Take Profits:
1790.08
1804.23
1814.96
1834.65
1874.88
1959.30
2000.00
2075.05
❤️ If you find this helpful and want more FREE forecasts in TradingView
. . . . . Please show your support back,
. . . . . . . . Hit the 👍 LIKE button,
. . . . . . . . . . Drop some feedback below in the comment!
❤️ Your support is very much 🙏 appreciated!❤️
💎 Want us to help you become a better Forex / Crypto trader?
Now, It's your turn!
Be sure to leave a comment; let us know how you see this opportunity and forecast.
Trade well, ❤️
ForecastCity English Support Team ❤️
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