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Today Technical Analysis: Gold Reaches A New All-Time High Above $3,600

From startrader.com

Gold recovered strongly from $3,511 support, then pushed higher toward all-time high $3,600. Price is currently consolidating just below $3,600 with the moving average MA(30) catching up from below, keeping the uptrend structure intact. Short moving averages MA(5) and MA(10) are flattening, indicating that momentum is cooling but, with no reversal yet. MACD has recently shifted negative, signaling short-term weakening. Price action remains bullish above $3,560, but momentum has slowed. Breakout above the record high of $3,600 could target $3,650, while failure to hold $3,560 risks a deeper retracement. {chart} Dow ... (full story)

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