Technical Analysis – Gold takes a breather after reaching a 91-month peak
Posted on May 25, 2020 at 7:08 am GMTGold appears to have somewhat weakened after plotting a fresh more than 7½-year high, stalling above the mid-Bollinger band at 1,716. Though the short-term oscillators back a very short-term weakness in the price, the simple moving averages (SMAs) still maintain their strong positive charge, dictating a bigger positive bearing. The MACD is still in the positive region but has dipped below its red signal line, while the RSI points down, hovering above the 50 threshold. The stochastics also back the [..]