Gold opened the new year with mild losses after its bullish attempts to close above the May 2023 bar of 2,079 proved fruitless in the last week of December. The price is currently trading muted slightly below the 23.6% Fibonacci retracement of the previous upleg at 2,065 but there is still a ray of hope for another upturn. The RSI is still clearly above its 50 neutral mark despite losing some ground, while the stochastic oscillator is a short distance above its 20 oversold level, suggesting that any additional declines might stall soon. Should the bears breach the current support area of 2,058, the 20-day exponential ... (full story)