The near-term chart shows how unrelenting the bullish momentum has been since the turn of the year. Price action has been running above both its 100-hour (red line) and 200-hour (blue line) moving averages for the past seven weeks. There have been a couple of tests of the key near-term levels but none were decisive breaks whatsoever.
What was a key near-term support level before has now turned to a key near-term resistance for gold. In other words, sellers are now defending that level in trying to keep the shift in the downside bias from yesterday.
The daily and weekly charts are still not showing much let up in the upside run though. But every retracement begins with small steps, and it's important to take notice of this one in case it does begin to gather pace.
This article was written by Justin Low at www.forexlive.com.Hence then, the article about the technical lines in the sand have shifted in gold was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
Read More Details
Finally We wish PressBee provided you with enough information of ( The technical lines in the sand have shifted in gold )
Also on site :