💡GOLD (XAUUSD) - Weekly Technical Analysis Update

27 июн. 2021 г.

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 1916.50 on 06/ 01 /2021,
so more losses to support(s) 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 35.

Take Profits:

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


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