Friday, December 6, 2019
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Technical Analysis – Gold looks to be forming a triangle

Gold looks to be forming a triangle after a neutral week. Gold continued to trade along with the downward-sloping trend-line following the negative breakout of an ascending channel, despite closing neutral last week. Traders may maintain neutral behavior in the short-term according to the flattening RSI and MACD, probably keeping the market below the descending

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Technical Analysis – Gold consolidates, capped by SMAs

Gold buyers are attempting to tackle the converging simple moving averages (SMAs) in the sideways market. The 20-period SMA, from a flattened state, deflected off the horizontal 100-period SMA completing a bearish crossover of the 50-period SMA, suggesting that the commodity is leaning more towards a short-term negative outlook. The short-term oscillators

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