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Gold Breaks Above the Descending Triangle Pattern and $2000
The H4 chart of Gold shows that there are more buyers in the market than sellers. The prices have been moving in a descending triangle pattern for the past two weeks. Now, it has broken above the psychological $2000 mark. It is the same level where the 100-period Simple Moving Average is standing. If prices manage to reach $2006, the initial resistance, it would further raise towards the next resistance at $2015. Right now, the XAU/USD is hovering above the 100-period SMA. However, the MACD histograms appearing below the zero line suggest that the bears are still present in the market. Whereas, the 60 value of the ... (full story)
