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Gold extends yearly highs; bias bullish

Discussion in 'Technical Analysis' started by FXStreet_Team, Mar 11, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    Gold set a new one-year high of 1283.43 today before easing to around 1270. The rally since the start of the year has led to the bullish crossover of the 50-day moving average with the 100- and 200-day moving averages, underlining the current positive bias. Both the RSI and the MACD remain in positive territory, suggesting scope for further gains in the near term. However, with prices moving along the upper Bollinger band for the past week, a short-term correction or pause in the rally may be

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