Gold recorded its best weekly performance so far this year, topping near a former key resistance of 1,346 on Friday. The RSI and the Stochastics, however, indicated that the bulls are exhausted as the measures peaked in overbought territory – letting the bears take over on Monday. Yet, with the 20-day simple moving average (SMA) increasing its distance above the 50-day SMA, the positive market trend may likely extend forward in the short-term. Should the market close comfortably below the 1,320 level, the bearish action may extend towards the upper surface of the Ichimoku cloud and the 23.6% Fibonacci of the long ... (full story)