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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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.