Gold today confirm buy signal
Gold price remains capped below the critical support-turned-resistance at $1,926, where the 21- and 200-Daily Moving Averages (DMA) coincide.
On Friday, Gold price managed to pierce through the latter to challenge the bearish 50 DMA at $1,929 but failed to find any acceptance, as Gold sellers re-emerged.
The 14-day Relative Strength Index (RSI) indicator also flipped back into the negative territory, below the 50 level, suggesting that the downside remains more compelling.
Gold now buy 1922
buy limit 1918
Target 1* 1926
Target 2* 1930
Target 3* 1943
SL 1910
On Friday, Gold price managed to pierce through the latter to challenge the bearish 50 DMA at $1,929 but failed to find any acceptance, as Gold sellers re-emerged.
The 14-day Relative Strength Index (RSI) indicator also flipped back into the negative territory, below the 50 level, suggesting that the downside remains more compelling.
Gold now buy 1922
buy limit 1918
Target 1* 1926
Target 2* 1930
Target 3* 1943
SL 1910
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