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ForecastCity_World
Mar 6, 2022 12:43 PM

GOLD (XAUUSD) - Weekly Technical Analysis Update Long

Description

Midterm forecast:
1874.88 is a major support, while this level is not broken, the Midterm wave will be uptrend.
We will close our open trades, if the Midterm level 1874.88 is broken.

Technical analysis:
While the RSI uptrend #1 is not broken, bullish wave in price would continue.
A trough is formed in daily chart at 1780.20 on 01 /28/2022, so more gains to resistance(s) 2000.00, 2075. 05 and more heights 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 74.

Take Profits:
1790.08
1804.23
1814.96
1834.65
1874.88
1959.30
2000.00
2075. 05

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Comments
Babar-Ali
Superb
ForecastCity_World
@Babar-Ali, Thank you! Hope it's inspiring.
Lizabet
Excellent update! 👍👍
ForecastCity_World
@Lizabet, Thank you for your comment. We appreciate it. 🌹
DenizKilicDeniz
Thanks.
ForecastCity_World
@DenizKilicDeniz, You're very welcome!
DenizKilicDeniz
That's a great update. Very helpful.
ForecastCity_World
@DenizKilicDeniz, Glad you found it helpful.
ForecastCity_World
@DenizKilicDeniz, Thank you for your comment. We appreciate it. 🌹
rezarahmanijamnani
great analysis 👍
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