💡GOLD (XAUUSD) - Weekly Technical Analysis Update

19 พ.ย. 2022

Midterm forecast:
While the price is above the support 1674.85, resumption of uptrend is expected.
We make sure when the resistance at 1786.50 breaks.
If the support at 1674.85 is broken, the short-term forecast -resumption of uptrend- will be invalid.
We will close our open trades, if the Midterm level 1674.85 is broken.

Technical analysis:
While the RSI uptrend #1 is not broken, bullish wave in price would continue.
A peak is formed in daily chart at 1786.50 on 11/15/2022, so more losses to support(s) 1730.00, 1708.45, 1688.79 and minimum to Major Support (1674.85) 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 62.

Take Profits:
1658.96
1688.79
1708.45
1730.00
1765.00
1807.13
1850.71
1878.75
1914.23
1980.16
2074.89
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