Technical Analysis – Gold slips below 50-SMA; risk leans towards negative
Posted on August 19, 2019 at 8:57 am GMTGold has only been focused on making new peaks as it logged a new 6-year and four-month high of 1534.91. The metal corrected to the downside after the high on August 13 but the 50-period simple moving average (SMA) in the four-hour chart managed to limit the negative movement. The MACD and the RSI are indicating that the positive directional momentum is decreasing as the MACD is underneath its red trigger line, nearing zero, whereas the RSI has moved slightly [..]