Gold bulls dealt a minor setback in trading yesterday ...Middle East

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As the dollar bounced back a little, gold fell by 1% and more importantly back under the $2,500 mark. Price is still keeping above the previous triple top pattern around $2,480 but buyers will be hoping to clinch a more convincing push above the figure level to solidify the breakout status.Instead, price action focus now turns towards the near-term chart as seen above.The drop under $2,500 sees gold move back to test its 200-hour moving average (blue line) and buyers are holding for now. Keep above that and buyers will still be in it with a shout as we look to close out the week. But break below and sellers will start to resume near-term control for the first time since the start of August.F

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Last updated : 23 August 2024 clock 10:52 AM

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Gold bulls dealt a minor setback in trading yesterday ...Middle East

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