Gold : Technical View : 16.12.2019
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On the daily chart, the price has closed on a
positive note and rose by 0.51%
But, the price has sustained below its Ichimoku Cloud, which is bearish for the counter.
Furthermore, the price has sustained below the 21*50 days EMA’s, which signals negative momentum in the counter.
Additionally, RSI(14) has sustained below the 50 level, which suggests pressure in the counter for the near term.
As per the above technical structure; we expect a bearish move in the counter
But, the price has sustained below its Ichimoku Cloud, which is bearish for the counter.
Furthermore, the price has sustained below the 21*50 days EMA’s, which signals negative momentum in the counter.
Additionally, RSI(14) has sustained below the 50 level, which suggests pressure in the counter for the near term.
As per the above technical structure; we expect a bearish move in the counter