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Gold sellers stay in control below MAs on the hourly and daily charts
Gold is trading lower today, although it has recovered from its session lows. The metal is currently down around $30 as rising U.S. Treasury yields and a stronger U.S. dollar continue to weigh on prices. The low for the day reached $4,136.70 before rebounding, while the high came in at $4,221. From a technical perspective, gold remains under pressure. On the hourly chart, the price continues to trade below the falling 200-hour moving average, currently at $4,231.55. The 100-hour moving average sits higher at $4,254.65, and both averages are sloping downward, reinforcing the bearish bias. As long as the price remains ... (full story)
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- Jun 22, 4:59pm | 3 hr ago Posted byTechnical Analysis50
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