Gold This Week
Gold is in short term bullish pattern. How's Gold price movement this week? Can it extend its gains? This article presents technical analysis for Gold price this week. Read this article to find out more
By the time I write this article, Monday 6th September 2010, Gold is at 1246. Gold is in short term bullish pattern
As you can see, Gold in short term bullish pattern. Moving average shows fast MA is above the slow MA, that is a sign of bullish. MACD indicates MACD line is above the signal and it is in in positive value. This indicated Gold is in short term uptrend. But RSI shows it has already in overbought are for some time. It is also near resistance 1250-1260. Based on all of these indicators, I guess Gold is going SIDEWAYS or UP this week.
Support = 1231
Resistance = 1250
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