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Gold moves back above its 200 day moving average. 100 week MA in play as well.

Gold moves back above its 200 day moving average.  100 week MA in play as well.

Gold has seen its price move lower on the back of the stronger than expected US jobs report and higher dollar. But as they dollars gains have been eroded, the price of gold has likewise seen a rebound back to the upside.

The price has moved back above its 200 day moving average (green line in the chart above) at $1795.75. The price is currently trading above and below that MA after reaching to a corrective high at $1798.55. The 200 day MA is a barometer for the buyers and sellers. M... Read More

Posted: Dec 2 2022, 18:10
Author Name: forexlive
Views: 112573

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