Long-Term Technical Analysis of Gold-July 12, 2022admin 12 July 2022
Long-Term Technical Analysis of Gold on Tuesday, July 12, 2022 is in daily and four hour time frame.
In the daily chart, the formation of the Double Top pattern can be seen, but the breaking of the support range of 1676.15 completes this pattern, and if the price manages to break this important range, it can fall to the level of 1555 dollars and 1450 dollars per ounce in a downtrend.
In the 4-hour chart, if the support range of $1,723 per ounce is broken, the price can continue its downward trend to the level of$1,680.
The dollar index is increasing, which can contribute to the drop in the price of an ounce of gold