Gold: failure to capitalize on momentum may disappoint bulls The failure of gold to push ahead in its recovery momentum will come as a disappointment for the bulls. Even as safe-haven flows have begun to resume on Wednesday, the gold price closed lower and runs the risk that this tepid rally has already run out of steam. The band of overhead supply between $1474/$1480 has come in to act as a barrier to the recovery and yesterday’s high at $1279 is notable. Read more… Gold Technical Analysis: Remains vulnerable below 100-day SMA Gold seems to have stalled its recent corrective bounce from three-month lows and witnessed a modest pullback from previous support, now turned resistance near 100-day SMA. Meanwhile, the commodity has been trending lower over the past two months or so along a descending trend-channel, which clearly points to a well-established near-term downtrend. Read more… Gold daily chart 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 Wall Street opens modestly lower as investors assess US-China trade headlines FX Street 3 years Gold: failure to capitalize on momentum may disappoint bulls The failure of gold to push ahead in its recovery momentum will come as a disappointment for the bulls. Even as safe-haven flows have begun to resume on Wednesday, the gold price closed lower and runs the risk that this tepid rally has already run out of steam. The band of overhead supply between $1474/$1480 has come in to act as a barrier to the recovery and yesterday's high at $1279 is notable. Read more... Gold Technical Analysis: Remains vulnerable below 100-day SMA Gold seems to have stalled its recent… 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.
