Gold neutral medium term bias

Discussion in 'Technical Analysis' started by FXStreet_Team, Apr 19, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    In the medium term, the market maintains a neutral bias between a broad range of 1200 and 1280. Gold staged a strong rally from lows of 1046.29 in December 2015 to a 14-month high of 1283.42 in March 2016. The rally reversed lower from this peak after RSI reached overbought levels near 70 and fell back down. This March peak could be seen as the head of a possible head and shoulders chart pattern that is in the process of being formed. This chart pattern is a trend reversal signal. A break

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