💡GOLD (XAUUSD) - Weekly Technical Analysis Update

Midterm forecast:

While the price is above the support of 1744.50, resumption of uptrend is expected.
We make sure when the resistance at 1916.50 breaks.
If the support at 1744.50 is broken, the short-term forecast -resumption of uptrend- will be invalid.
We will close our open trades , if the Midterm level 1744.50 is broken.

Technical analysis:

A peak is formed in daily chart at 1832.65 on 07/29/2021, so more losses to support(s) 1762.55 and minimum to Major Support (1744.50) is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 32.

Take Profits:
1762.55
1828.25
1875.15
1959.30
2075.05

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