Technical analysis of GOLD 07/21/2022
On the (4H) chart, Gold is in a descending channel. The price found support at 1680.00 (minimum 2021) and is currently at 1715.00.
The technical picture suggests a continuation of the upward correction within the descending channel, in favor of which is the convergence on the indicator (RSI).
The nearest resistance is the level area of 1720.00 (23.6% Fibo). The next resistance within the correction is the level area of 1750.00 (38.2% Fibo), (MA100).
A signal to cancel the growth of quotations within the correction will be a price drop below 1680.00.
Created by Joshua Hayn