Gold stays within tentative descending channel

From xm.com

video Gold recouped a small portion of its losses last week to close slightly positive after finding support at 1,445 and near the bottom of a tentative descending channel. Despite the rebound, the price remained slightly below its 20- and 50-simple moving averages (SMAs) that maintain a bearish cross and under the Ichimoku cloud. Meanwhile in momentum indicators, signals are also discouraging as the RSI was unable to return above its 50 neutral mark and the MACD held stable below its red signal line. Therefore, the short-term bias is currently viewed as negative. The 1,445 level, which coincides with the 38.2% ... (full story)