Gold has been experiencing a sustained downtrend since early March, creating a profound structure of lower highs and lower lows. However, the precious metal managed to cease its decline at the one-year low of 1,681 and is currently in recovery mode, targeting its upper Bollinger band and the restrictive trendline. The momentum indicators are reflecting a positive near-term bias. Specifically, the stochastic oscillator is sloping upwards within the 80-overbought zone, while the RSI has jumped above its 50-neutral threshold. Should buying interest intensify further, the price may encounter initial resistance at the ... (full story)