Gold is moving higher again today, recording its third consecutive green candle after bouncing off the 1,984 support level. It is currently testing the 38.2% Fibonacci retracement level of the up leg from 1,810 to 2,145 at 2,016 and the 20-day simple moving average (SMA) at 2,024. The market has been developing within a consolidation area over the last three months and continues to do so, with the technical oscillators suggesting an upside recovery. The MACD is gaining some momentum beneath its trigger and zero lines, while the RSI is moving higher towards the neutral threshold of 50. In the event the pair ... (full story)