Gold : Technical View : 21.11.2019
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On the daily chart, the price slipped by 0.37%
in the previous trading session.
Moreover, the price has breached below the 20 day’s EMA, which looks bearish for the counter.
Furthermore, the price has taken resistance of the downward sloping trendline.
Additionally, momentum indicator RSI(14) has slipped below the 50 level, which indicates weakness.
As per the above technical structure; we can expect a bearish move in the counter.
Moreover, the price has breached below the 20 day’s EMA, which looks bearish for the counter.
Furthermore, the price has taken resistance of the downward sloping trendline.
Additionally, momentum indicator RSI(14) has slipped below the 50 level, which indicates weakness.
As per the above technical structure; we can expect a bearish move in the counter.