Technical Analysis – Gold bulls pause rally at fresh 6-year highs
Posted on July 22, 2019 at 8:22 am GMTGold spiked to a fresh six-year high of 1,453 on Friday after closing above the 50% Fibonacci of the three-year old downleg from 1,796 to 1,046, but the market could not sustain the gains, with the price pulling back near the Fibonacci level. Meanwhile in momentum indicators, the MACD failed to pierce its red signal line last week, while the RSI continues to fluctuate sideways in the bullish area, both suggesting a neutral-to-bearish bias for the short-term. The slowdown in the 20-day simple [..]