Gold pulled back on Tuesday as the risk theme turned positive and equities rose. The price moves lower toward $1700, FXStreet’s analyst Rajan Dhall reports. Key quotes “The MACD signal lines have crossed over to the downside below the zero mid-line. This is considered bearish in the medium-term and could indicate a bigger correction is in the making. This theory is also backed up by the Relative Strength Index indicator as it is heavily in a bearish position, although there is some more room to move to the downside.” “In terms of support zones, the 38.2% Fibonacci support at $1645.00 per troy ounce look firm as it has another support level close by. Bear in mind that if the price does move that low the bull flag would be obsolete and the 200 SMA would be broken.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Cryptocurrency Market News: Bitcoin and crypto bullish cycle impends as governments pad economies FX Street 3 years Gold pulled back on Tuesday as the risk theme turned positive and equities rose. The price moves lower toward $1700, FXStreet’s analyst Rajan Dhall reports. Key quotes “The MACD signal lines have crossed over to the downside below the zero mid-line. This is considered bearish in the medium-term and could indicate a bigger correction is in the making. This theory is also backed up by the Relative Strength Index indicator as it is heavily in a bearish position, although there is some more room to move to the downside.” “In terms of support zones, the 38.2% Fibonacci support at $1645.00… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
