Gold price technical analysis: Daily chart
As observed on the daily chart, Gold price is battling the
21-day Simple Moving Average (SMA) support at $2,650.
The 14-day Relative Strength Index (RSI) is trading flat at
around the 50 level, suggesting a lack of clear directional
bias at the moment.
If Gold buyers flex their muscles, the rebound could test
the 50-day SMA at $2,670, above which the $2,700 level
will come into play.
Additional upside could retest the multi-week high of
$2,726.
On the flip side, a daily candlestick close below the 21-day
SMA at $2,650 could call for a retest of the December 6
Iow of $2,613
The last line of defence for Gold buyers is seen at the
$2,600 area, where the 100-day SMA coincides with the
November 26 low.
21-day Simple Moving Average (SMA) support at $2,650.
The 14-day Relative Strength Index (RSI) is trading flat at
around the 50 level, suggesting a lack of clear directional
bias at the moment.
If Gold buyers flex their muscles, the rebound could test
the 50-day SMA at $2,670, above which the $2,700 level
will come into play.
Additional upside could retest the multi-week high of
$2,726.
On the flip side, a daily candlestick close below the 21-day
SMA at $2,650 could call for a retest of the December 6
Iow of $2,613
The last line of defence for Gold buyers is seen at the
$2,600 area, where the 100-day SMA coincides with the
November 26 low.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.