Technical Analysis – Gold bearish bias as it approaches the moving averages
Posted on May 3, 2017 at 7:00 am GMTGold is currently down from the day’s open though not by much. Should it continue declining, it could meet intra-day support at the 200- and 50-day moving averages (MAs). The RSI indicator is projecting a bearish short-term picture as it is currently at 45 – a level below the 50 neutral-perceived one. The 38.2% Fibonacci retracement level (March 10 – April 17 upleg) at 1256.83, which is at the moment in proximity to the current price level, might offer intra-day [..]