Gold’s climb restricted by Bollinger band and 23.6% Fibonacci

From xm.com

Gold’s gradual incline – after reversing ahead of the 1,546 low – appears to have stalled between the 50-period simple moving average (SMA) and the upper-Bollinger band residing at the 23.6% Fibonacci retracement of the up move from 1,458.42 to 1,611.28. The short-term oscillators reflect improving positive momentum. The MACD, above its red trigger line, has risen above the zero mark, while the RSI is increasing in the bullish territory. Moreover, all SMAs have kept their bullish picture intact. A move back below the immediate 50- and 100-period SMAs around 1,568, could find initial friction at the mid-band ... (full story)