Technical Analysis – Gold looks mostly neutral in the short-term; bearish medium-term outlook to be challenged?
Posted on September 14, 2018 at 12:13 pm GMTGold has been moving within a relatively narrow range between 1,187.58 and 1,214.15 from late August onwards. The RSI is hovering around the 50 neutral-perceived level, pointing to the absence of momentum in either direction in the short-term. On the upside, immediate resistance to gains may come around the 23.6% Fibonacci retracement level of the downleg from 1,365.89 to 1,160.03 at 1,208.29. In proximity to this point are the current level of the 50-day moving average line at 1,211.03, Thursday’s two-week [..]