price of gold per oz
Gold RSI Suggests More Room for Additional Upside
Gold RSI Suggests More Room for Additional Upside – While the actual bullish break materialized after a classic symmetrical triangle pattern was confirmed on the daily chart last Thursday. The bulls rallied hard to clock a fresh seven-year high at 1751.80 before retracing slightly into the weekly closing on Friday.
Gold steady as Investors Eye US Fed’s Powell Speech
Gold prices were little changed on Wednesday, with markets awaiting a speech by Federal Reserve Chairman Jerome Powell for more signals on the US interest rate trajectory after dismal economic data.
Gold Technical Trading Levels – Gold looks to close below $1,700
Gold Technical Trading Levels : The data published by both the IHS Markit and the Institute for Supply Management (ISM) on Friday revealed that the business activity in the US’ manufacturing sector contracted sharply in April.
Gold Technical Price Outlook : Down
Gold Technical Price Outlook : The recent pullback in gold may gather pace in May as the Reserve Bank of Australia (RBA) and Bank of England (BoE) are expected to keep interest rates at a record low, and the wait-and-see approach for monetary policy may dampen the appeal of bullion as governments across the advance economies unveil plans to roll back lockdown laws.