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$4,000: Just a pause, not the end of Gold’s decline
Gold is rebounding at the end of the week after a correction in the odds of two key Fed rate hikes this year. Nevertheless, the price is falling for the fourth consecutive week. Since the second half of the week, bears have been relentlessly trying to push the price below the psychologically significant $4,000 mark but eased their grip on Friday afternoon. At the same time, the long-term moving averages favour sellers, as a ‘death cross’ is looming (when the 50-day moving average falls below the 200-day moving average), reinforced by the fact that the price is trading below this cross. chart On the weekly ... (full story)
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- Jun 26, 2:08pm | 2 hr 27 min ago Posted byTechnical Analysis44
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