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Gold (XAU/USD) Price Forecast: Tests Moving Average Resistance Within Symmetrical Triangle
Gold remains in a holding pattern, trading near the resistance of both the 20-Day and 50-Day moving averages. Wednesday saw a bullish reversal signal as prices climbed to a high of $3,371, surpassing Tuesday’s $3,359 peak. That rally also produced a higher daily high and low, suggesting short-term bullish momentum. A daily close above $3,359 would confirm the reversal and likely put gold back above both moving averages. The 20-Day MA, now at $3,357, marks the upper end of the immediate range, and a close above it could open the door to a test of the recent lower swing high at $3,409 and the top boundary of a ... (full story)
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