Gold bulls recapture 200-DMA, more gains likely? by Dhwani286 gold commodities bull
after lurking below the latter so far this week. The bright metal jumped as much as 1.5% to test the $1,850 barrier before easing to settle the day at $1,842.
Gold Price is headed for the first weekly gain in five weeks this Friday, despite posting small losses, in the wake of a sharp rebound in the. The dollar recovers its ground even though risk sentiment remains in a fairly better spot, with the S&P 500 futures up 0.65% on the day.
Although it remains to be seen if bulls can retain control, as the 14-day Relative Strength Index continues to inch lower below the midline. Alternatively, five-day highs of $1,849 will be retested on buying resurgence, reopening the upside towards the bearish 21-DMA at $1,862.price is likely to keep its choppy trend intact around the 200-DMA heading into the weekly closing.
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