GOLD TECHNICAL ANALYSIS
Technical Analysis, Sunday, 5 March 2023
1. On weekly chart, there’s a bullish engulfing candle appears after 4 weeks of retracement. That shows price creating a support at RBS area near 1800 and ready to continue rally.
- Weekly Chart: CLICK HERE TO VIEW MORE
2. On daily chart (last friday), daily candle closed as bullish candle after doji candle and above 1850 resistance indicating a bullish trend is coming. MACD also had cross above the signal line showing a confirmation for uptrend.
3. With multiple bullish signal appears this week, traders may look for buy at 1835 and below.
- Daily Chart: CLICK HERE TO VIEW MORE
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