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Gold hovers around 200-day SMA, diverging signals arise
video Gold had been trading within a descending channel for the most part of 2022 but managed to stage a moderate rebound since early November. Even though bullion has recovered significant ground, its recovery seems to be on hold as the price failed to profoundly surpass the 200-day simple moving average (SMA). The fact that gold is stuck between opposing directional forces is also reinforced by the momentum indicators. Specifically, the RSI remains comfortably above its 50-neutral mark, while the stochastic oscillator is descending near the 20-oversold zone. If sellers manage to seize control and push the price ... (full story)