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Gold faces setback after hitting 5-month peak
video Gold has been in a steep uptrend since October 10, reclaiming crucial technical regions such as the 200-day simple moving average (SMA) and the 2,000 psychological mark before posting a fresh five-month peak of 2,009. However, bullion experienced a minor pullback probably due to reaching overbought conditions. Should gold extend its recent correction, the bears could attack the July resistance of 1,987, which could now act as support. Piercing through that wall, the price could slide towards the October support of 1,954. Further declines could then cease at the June hurdle of 1,932, which overlaps with the ... (full story)