Technical Analyzing: Gold Continues Maintains Upward Momentum
Overall, Gold continues to maintain its upward trend due to political tensions in the Middle East. Investors continue to bet on the Federal Reserve's interest rate cuts, which is also contributing to pushing gold prices higher.
Based on technical analysis, the upward trend of gold is still clearly supported. The Relative Strength Index (RSI) is trading above the 55 level, indicating that gold prices are on the rise. If prices continue at this level and surpass the 60 mark, we may witness a stronger price surge.
On the other hand, prices are also gradually adjusting and recovering from minor declines. It is expected that prices will test the Simple Moving Average SMA 20 area before rebounding strongly.
Based on technical analysis, the upward trend of gold is still clearly supported. The Relative Strength Index (RSI) is trading above the 55 level, indicating that gold prices are on the rise. If prices continue at this level and surpass the 60 mark, we may witness a stronger price surge.
On the other hand, prices are also gradually adjusting and recovering from minor declines. It is expected that prices will test the Simple Moving Average SMA 20 area before rebounding strongly.
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