Gold Spot technical analysis 17.07.2020

Gold Spot

Gold is trading at the lower end of 1794.70–1813.00 after reaching the local maximum. If the market sentiment today shifts to positive, the price of gold may decrease.

Technical side:

The price is below the middle Bollinger band, below SMA 5 and SMA 14. Movings averages suggest selling. RSI is located below the level of 50% and is growing. Stoch are in the oversold zone.

Gold Spot rate online: monitor the price movement in real time.

Trading recommendations:

A breakout of the level 1794.70 amid a wave of optimism will lead to a decrease in the price to 1784.50.