Gold : Technical View : 22.11.2019
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On the daily chart, the price faced pressure
and fell by 0.30% in the previous trading session.
Moreover, the price has crossed below the 20 day’s EMA, which adds negativity in the counter.
Furthermore, the price is trading below it’s downward sloping trendline, which confirms the downtrend.
Additionally, momentum indicator Stochastic (6) has shown a negative crossover, which indicates bearishness.
As per the above technical structure; we can expect a bearish move in the counter
Moreover, the price has crossed below the 20 day’s EMA, which adds negativity in the counter.
Furthermore, the price is trading below it’s downward sloping trendline, which confirms the downtrend.
Additionally, momentum indicator Stochastic (6) has shown a negative crossover, which indicates bearishness.
As per the above technical structure; we can expect a bearish move in the counter