Gold bulls took over again on Tuesday, driving the price near Friday’s 14-month high of 1,358. The location of the RSI – above 70 – hints that the bullish action may be overdone, and therefore no space is left for additional upside. However, with the Stochastics trending under the 80 oversold level and the MACD strengthening momentum above its red signal line, the market may see further improvement before potentially reversing lower. The 1,356-1,365 area is the next target, while slightly higher the 2016 peak of 1,375 could also play a key role for the rally to continue until the 1,400 psychological number. In the ... (full story)