Gold prices remain positive around the multi-year top flashed the previous month. A short-term rising trend channel above 100 and 200-bar SMAs keep the outlook positive. Overbought RSI conditions seem to cap the bullion’s further rally. Gold prices stay inside the weekly rising trend channel while taking rounds to 1,673 ahead of the European session on Friday. Also favoring the buyers is the bullion’s sustained trading above 100 and 200-bar SMAs. However, overbought RSI conditions seem to limit the yellow metal’s further upside, which in turn highlights the channel’s support of $1,654 as the key. Should the safe-haven declines below $1,654, 100-bar SMA near $1,621 and 200-bar SMA around $1,595 could gain the sellers’ attention. On the upside, the previous month high around $1,690 can offer immediate resistance ahead of fueling the quote towards the channel’s upper line, currently at $1,700. Gold four-hour chart Trend: Bullish 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 Dash Price Analysis: DASH/USD opens above the downward channel formation FX Street 3 years Gold prices remain positive around the multi-year top flashed the previous month. A short-term rising trend channel above 100 and 200-bar SMAs keep the outlook positive. Overbought RSI conditions seem to cap the bullion’s further rally. Gold prices stay inside the weekly rising trend channel while taking rounds to 1,673 ahead of the European session on Friday. Also favoring the buyers is the bullion’s sustained trading above 100 and 200-bar SMAs. However, overbought RSI conditions seem to limit the yellow metal’s further upside, which in turn highlights the channel’s support of $1,654 as the key. Should the safe-haven declines below… 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.
