Technical Analysis – Gold rebounds on 1-year low; bearish sloping channel holds
Posted on July 16, 2018 at 8:36 am GMTGold dipped to a fresh one-year low of 1236.27 during Friday’s trading session and posted a strong negative day, while it closed well above its intraday trough. Zooming in the 4-hour chart, the price today found a significant hurdle on the 20-simple moving average (SMA) and failed to jump above it. The technical indicators are sending different signals with the Relative Strength Index (RSI) flattening in the negative zone, however, the MACD oscillator created a bullish cross with its trigger line in the bearish [..]