GOLD Technical Weekly Analysis

Gold is trading below a downtrend on the H4 frame - and now the price stands at 1727, which represents resistance and 1736, and this is a resistance area. We expect the price to rebound from it to the bottom, but price conflict must occur in this area before exiting, because gold has strong positive momentum and global economic conditions Boost up with ease.

Traders are advised to sell from these two levels with extreme caution and cancel any downside scenario if the 1744 level is broken up. We also recommend that traders balance their contracts and hedge in this area until the trend is clearly confirmed

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Overall trend: downside cautiously