Gold price yield a daily closing above the falling trendline resistance at $2,036.
The 14-day Relative Strength Index (RSI) indicator recaptured the midline, justifying the latest upswing in the bright metal.
However, traders remain cautious as a Bear Cross was confirmed on Tuesday after the 21-day Simple Moving Average (SMA) crossed the 50-day SMA from above on a sustained basis.
Amid mixed technical indicators, it now remains to be seen if the Gold price could sustain its recent upbeat momentum.
The immediate strong resistance is seen around the $2,040 level, above which the psychological $2,050 level will be back in play. Further up, Gold optimists will target the December 12 high of 2,062.
Gold buy now 2039
Confirm Target 2060
The 14-day Relative Strength Index (RSI) indicator recaptured the midline, justifying the latest upswing in the bright metal.
However, traders remain cautious as a Bear Cross was confirmed on Tuesday after the 21-day Simple Moving Average (SMA) crossed the 50-day SMA from above on a sustained basis.
Amid mixed technical indicators, it now remains to be seen if the Gold price could sustain its recent upbeat momentum.
The immediate strong resistance is seen around the $2,040 level, above which the psychological $2,050 level will be back in play. Further up, Gold optimists will target the December 12 high of 2,062.
Gold buy now 2039
Confirm Target 2060
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97% Accurate
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Join Us For Any Help
We Are Always Ready To Help You