On the 23rd of November 2022, Gold found support at 1727.66 which is July last week, where it climbed and didn't look back. In 27 December 2022, Gold resisted at 1827.31 which is June last week. Now lets follow the same dates on my modified RSI. What we clearly see is that price momentum is being pushed in a downward direction. Which can suggest that, the price of gold is losing Momentum to Upside. A possible sign that price of Gold could potentially Rally.
If Gold rallies below 1827. Then selling opportunities could be attractive, but a break above 1839. Then Buying opportunities could be more attractive.
please take note, this is not trading advice just opinion on Precious metal. HAPPY NEW YEAR TO ALL.
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