Яндекс.Метрика Gold is still stuck in an up and down range but buyers are trying again to push higher – Technologies of the future for life!
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Gold is still stuck in an up and down range but buyers are trying again to push higher


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A series of bullish clues in trading on Monday

There was a series of successive bullish technical clues in the gold hourly chart during Monday’s trading.

  • The swing low on Monday stalled right at a lower trend line and bounced (trendline is at $1415.52 currently)
  • The price moved above the 100 hour moving average (blue line)  at $1420.83 
  • The price moved above the 200 hour moving average (greenline) at $1424.05
  • The price moved above a top side trendline at the same $1424.05 area
  • Those moves, tilts the bias more to the upside (more bullish). It will now take a move back below the trend line and the 200 hour moving average at the $1424.05 level to give the buyers some cause for concern.  
    Absent that (and a further extension below the 100 hour moving average – blue line) and the buyers are in firm control, with the high from July 25 at $1433.84 as the next target followed by swing highs from June 25 and July 3 at the $1437.88-$1439.21 area.  

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