Gold Price News and Forecast: XAU/USD licking wounds at key levels, eyeing bull RSI divergence

Gold technical analysis: Off lows, bull RSI divergence on 1H

Gold is currently trading at $1,455 per Oz, having hit a low of $1,451.50 earlier in the day.

The recovery could be extended further, possibly to $1,457-$1,460, as the hourly chart is reporting a bullish divergence of the relative strength index and MACD histogram. Read more…

Gold steady in Tokyo, licking wounds at key technical support on trade-deal sentiment

Spot gold is steady in Tokyo, unchanged on the day within a $1 range around 1453 at the time of writing. Markets are quiet and soaking up the record closing highs on Wall Street, as well as Monday’s regional equity sentiment that was quite positive, led by Hong Kong’s 1.6% bounce, as investors cheer mergers as well as upbeat trade deal headlines. Read more”¦

Gold – Capped by Key Average, Sentiment Bearish

Friday’s upside rejection has extended into Monday’s trading and Gold was sold to lower levels for the third consecutive day. This decline has not been an extensive one, however, despite yielding the lowest levels for 2 weeks. Nonetheless losses were enough to create negative signals for sentiment going into Tuesday. So this morning’s call is a Temporary Sell but leaving room to also Sell at 1460.8. The risk is 1469.8 with downside objectives at 1451.6, the overnight low, 1445.5, November’s base, or even 1441.1. Read more…