Wednesday, December 11, 2019

Gold : Technical View : 11.12.2019

Gold : Technical View : 11.12.2019

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On the daily chart, the price has been trading below the falling trend line but it gained 0.03% during the last session.

Moreover, the price has been trading below the median line of the Bollinger Band, which adds bearish strength in the counter.

Furthermore, the price has shifted below the 21*50 days SMA’s and Parabolic Sar, which signify negative sentiments for the counter.

Additionally, RSI(14) has sustained below the 50 level, which suggests falling prices in the near term.

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