Williams Alligator Indicator shows the lips, teeth and jaw lines moving downwards and further away from each other, indicating GOLD is in a downtrend and experiencing bearish momentum.
RSI shows that GOLD is oversold, therefore, it might be prime for a trend reversal or price correction.
MACD line is under the signal line, and both of them are under the baseline, indicating that GOLD is in a downtrend and experiencing bearish momentum.
Overview: Overall, all indicators suggest that GOLD is in a strong bearish trend. Due to that, the RSI suggests that it might be prime for a bullish trend reversal, or price correction. It is best to hold trade for a short period and be cautious with timing as it only aims to profit from the correction, and therefore, a long position is recommended. Entry price should be set slightly higher than current price for assurance, and stop loss should be set at about -5%.
RSI shows that GOLD is oversold, therefore, it might be prime for a trend reversal or price correction.
MACD line is under the signal line, and both of them are under the baseline, indicating that GOLD is in a downtrend and experiencing bearish momentum.
Overview: Overall, all indicators suggest that GOLD is in a strong bearish trend. Due to that, the RSI suggests that it might be prime for a bullish trend reversal, or price correction. It is best to hold trade for a short period and be cautious with timing as it only aims to profit from the correction, and therefore, a long position is recommended. Entry price should be set slightly higher than current price for assurance, and stop loss should be set at about -5%.