Technical Analysis – Gold neutral in short-term but still negative in long-term
Posted on September 10, 2018 at 10:04 am GMTGold holds below the 20- and 40-simple moving averages (SMAs) in the 4-hour chart, signaling further losses. In the short-term though, the market appears to be in a largely neutral mode after the fall below the 1207 hurdle. The RSI is largely moving sideways below the 50 level. Notice though that the MACD has dropped below its trigger and zero lines; the decline below the trigger line may signal a fresh wave of negative momentum. If price action jumps above the SMAs, there is scope to test the 1207 resistance level, taken from [..]