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Gold consolidates between 100/200 hour MAs

Gold consolidates between 100/200 hour MAs

The price of gold is waffling up and down today with a high at $1780.90 and a low at $1766.90. The consolidation comes after the precious metal fell -1.6% yesterday. The price today is little changed at +0.11% at $1770.51.

Technically, looking at the daily chart, the price decline yesterday came after the spot price extended above the 200 day moving average and closed above for two consecutive days. Yesterday when a new high was made, and failed, buyers turn to sellers leading to th... Read More

Posted: Dec 6 2022, 17:24
Author Name: forexlive
Views: 102294

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