Home 2020 Gold’s Price is Ranged

Gold’s Price is Ranged

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#Gold

$XAU $GLD $USD

Gold: Technical analysis

Gold prices moved lower unable to gain momentum bouncing at support near the 50-Day MA at 1,932.

Prices pushed back through short term support is seen near the 10-Day MA near 1,944.

Top range resistance is seen near the September highs at 1,979.

Medium-term momentum has turned positive as the MACD index generated a crossover buy signal. This occurs as the MACD line (the 12-Day MA minus the 26-Day MA) crosses above the MACD signal line (the 9-Day MA of the MACD line).

Short-term momentum has turned positive as the fast stochastic generated a crossover buy signal.

The RSI is moving sideways to higher which is a sign of accelerating positive momentum.

There is a 50/50 chance of a brake North or South, I am Neutral gold in here.

Have a healthy weekend, Keep the Faith!

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Paul A. Ebeling, a polymath, excels, in diverse fields of knowledge Including Pattern Recognition Analysis in Equities, Commodities and Foreign Exchange, and he is the author of "The Red Roadmaster's Technical Report on the US Major Market Indices, a highly regarded, weekly financial market commentary. He is a philosopher, issuing insights on a wide range of subjects to over a million cohorts. An international audience of opinion makers, business leaders, and global organizations recognize Ebeling as an expert.