Thursday, June 20, 2019
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Technical Analysis – Gold turns overbought

Gold turns overbought near former key resistance. Gold recorded its best weekly performance so far this year, topping near a former key resistance of 1,346 on Friday. The RSI and the Stochastics, however, indicated that the bulls are exhausted as the measures peaked in the overbought territory – letting the bears take over on Monday. Yet, with the 20-day simple moving

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Technical Analysis – Gold finds an obstacle near 1,287

Gold finds an obstacle near 1,287; indicator suggests bearish bias. Gold prices had another touch of the 1,287 resistance level today, remaining above the 23.6% Fibonacci retracement level of the descending movement from 1,346.60 to 1,266 near 1,285 and is standing within the Ichimoku cloud in the 4-hour chart. The RSI and the stochastic oscillator signal that

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