Gold is still developing well above the 2,000 round number, remaining strongly bullish but the short-term simple moving averages (SMAs) in the 4-hour chart suggest a potential downside correction. The RSI indicator is falling in the positive area, while the MACD is heading sideways near its trigger and zero lines. An extension of the declining move may find support at the 50-period SMA at 2,015 ahead of the 2,000 psychological mark and the 200-period SMA. Any movements beneath the latter may open the way for a more negative structure until 1,976. On the other hand, a climb above 2,038 could add to the optimism for ... (full story)