Gold takes a time-out after high; bears flirt with the 50-SMA

From xm.com

The yellow metal clocked a new 6 ½-year high of 1555.10 on August 26 and then pushed into a transition period for around a week with upper and lower boundaries around 1547 and 1516 respectively. It’s worth mentioning that the Bollinger bands are also squeezed in this short-term pause in direction. The MACD and the RSI suggest that negative momentum has started to increase. The MACD currently beneath its red trigger line, has declined into the negative zone, while the RSI deflected off the 50-level, is descending in the bearish territory. The upward slope in the 50- and 100-period simple moving averages (SMAs) ... (full story)