Gold : Technical View : 18.11.2019
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On the daily chart, the price slipped by 0.77% in the previous trading session.
Moreover, the price has taken the resistance from the upper line of the Symmetrical Triangle
Pattern, which adds resistance in the counter.
On the other hand, it has also shifted below the Median of the Bollinger Band, which adds
negative strength in the counter for near term.
Momentum indicator RSI(14) has breached below the 50 level, which indicates bearishness.
As per the above technical structure; we can expect bearish move in the counter.
Moreover, the price has taken the resistance from the upper line of the Symmetrical Triangle
Pattern, which adds resistance in the counter.
On the other hand, it has also shifted below the Median of the Bollinger Band, which adds
negative strength in the counter for near term.
Momentum indicator RSI(14) has breached below the 50 level, which indicates bearishness.
As per the above technical structure; we can expect bearish move in the counter.