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Weekly forecast Gold technical chart
Symbol XAUUSD

Trading suggestion:

  • By appearing primary signs of entering the market, new entry zone and short-term targets would be published.

DateDecember 2, 2023 - 07:35
Currentuptrend
Forecastcontinuation of uptrend

Midterm forecast:

  • While the price is above the support 1932.85, continuation of uptrend is expected.
  • We make sure when the resistance at 2080.00 breaks.
  • If the support at 1932.85 is broken, the short-term forecast -continuation of uptrend- will be invalid.

Technical analysis:

  • While the RSI uptrend #1 is not broken, bullish wave in price would continue.
  • A trough is formed in daily chart at 1931.50 on 11/13/2023, so more gains maximum to Major Resistance (2080.00) is expected.
  • Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
  • Relative strength index (RSI) is 75.

Supports and Resistances:

  1. 2150.16
  2. 2100.67
  3. 2080.00
  4. 2049.59
  5. 2009.61
  6. 1969.15
  7. 1932.85
  8. 1765.00
  9. 1710.22
  10. 1688.79
  11. 1658.96
Click on the level to view price action history.

Symbol Released Current Forecast
Gold (XAUUSD) free Sat, 17 Feb 2024
Gold (XAUUSD) Sat, 10 Feb 2024
Gold (XAUUSD) Sat, 3 Feb 2024
Gold (XAUUSD) Mon, 29 Jan 2024
Gold (XAUUSD) Mon, 29 Jan 2024