Gold – XAU/USD Technical Evaluation
Gold Value – Weak consumers & weaker Sellers
On Nov 26, Gold corrected downtrend transfer and created a better low at $1,450. On Friday, the value closed the weekly candlestick with a Doji sample highlighting the market’s indecision at this stage.
This week the Relative Energy Index (RSI) crossed above 50, then remained flat reflecting the top of draw back transfer and the shortage of sufficient momentum from consumers to guide the value.
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Gold DAILY PRICE CHART (MaY 31, 2018 – DEC 5, 2019) Zoomed out
Gold DAILY PRICE CHART (AUG 1 – DEC 5, 2019) Zoomed In
Trying on the day by day chart, we discover the value continues to be shifting within the buying and selling zone entered in Nov 4 ($1,440- $1,510). The worth remained buying and selling above the uptrend line originated from the Aug 1 low at $1,400…