Gold : Technical View : 29.11.2019
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On the daily chart, the price strengthen and
gained 0.41% in the previous trading session.
However, 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.
However, 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.