Gold Price News and Forecast: XAU/USD edges sideways; negative pressures dwindle [Video]
|Will gold continue to rally in Q4, 2020? [Video]
Gold has been unstoppable throughout 2020, with the precious metal surging over 35% this year.
Gold starts the fourth quarter on a strong note after an historic announcement by the Fed to make significant shifts to its policy framework. Read More...
Technical analysis – Gold edges sideways; negative pressures dwindle
Gold has bounced on the Ichimoku cloud’s upper surface, while the simple moving averages (SMAs) converge slightly beneath. The recent weakness from the 1,992 barrier appears to be receding as the Ichimoku lines stabilise. Nonetheless, the SMAs and the Ichimoku cloud continue to dictate a neutral demeanour that has grasped the commodity for the last two weeks.
The oscillators suggest mixed signals of directional momentum. The MACD is weakening in the positive region, slipping below its red signal line. Yet, the RSI has bounced on its 50 threshold, while the stochastic oscillator has turned bullish, both promoting improvement in positive momentum. Read More...
Gold: Bulls need a break above 1991 for a buy signal
Gold Spot initially topped exactly at the selling opportunity at 1970/75 for the 3rd or 4th time. This levels has offered great profits over the past week. However I did warn that this was more likely to break vent yesterday...and exactly as predicted we broke higher through 1980 for a clear buy signal.
However gains could not be sustained & we now appear to be forming a triangle consolidation pattern. Read More...
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