Gold futures could be running into the same technical hurdles that sent prices tumbling in September, after the metal climbed to a one-year high, said Gary Christie, head of North American research at Trading Central . The difference between bullion futures’ moving average convergence-divergence indicator and the so-called signal line has narrowed, suggesting the rally could be losing steam. While Christie sees further upside in prices, the metal may see resistance at $1,358 an ounce, which would take MACD to around 20, and the relative strength index above 70, matching the indicators on Sept. 8 when prices reversed, he said.
Source: Bloomberg Pro Terminal
Trader Bozhidar Arabadzhiev
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