Gold is flirting with 200-DMA Oct 19. We had two daily close above 200-DMA so far – one on Oct 19 and other one on Oct 25. On both the occasions, the follow through was absent…prices immediately fell back below 200-DMA.
Prices were rejected at 200-DMA yesterday and earlier in Asia as well. The 200-DMA is no longer sloping upwards.
Overall, the price action suggests gold’s love affair with 200-DMA is about to end, Prices appear more likely that not to revisit support $1253 (38.2% of 2011 high—2015).
Prices were rejected at 200-DMA yesterday and earlier in Asia as well. The 200-DMA is no longer sloping upwards.
Overall, the price action suggests gold’s love affair with 200-DMA is about to end, Prices appear more likely that not to revisit support $1253 (38.2% of 2011 high—2015).
