Monday, November 25, 2019

Gold : Technical View : 26.11.2019

Gold : Technical View : 26.11.2019

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On the daily chart, the price weakened and slipped 0.33% in the previous trading session.

Moreover, the price has closed below the 20*50 day’s SMA, which adds more bearishness in the counter.

Furthermore, the price has sustained below the Falling Trendline, which signifies negative strength in the counter.

Additionally, a momentum indicator RSI(14) has been moving with negative crossover, which adds strength to move more downwards.

As per the above technical structure; we can expect a bearish move in the counter.