Technical Analysis – Gold hits near two-week low; looking bearish in the short-term
Posted on April 23, 2018 at 8:55 am GMTGold plunged during today’s European session, following declines in the two previous days. The price reached a two-week low of 1330.70 after the pullback on the 1355 resistance level. It is worth mentioning that the price has been trading within a range since January 25 with the 1365 resistance level being the upper boundary and the 1307 support level the lower boundary. From the technical point of view in the 4-hour chart, the RSI indicator is sloping to the downside and is approaching oversold levels, while the MACD oscillator is moving sharply lower below [..]