Gold again held onto its gains yesterday and looks poised to resume its move upwards, with the first target the 50 DMA and last swing high at 1694.
Gold has now closed above its 200 DMA for three sessions in a row and continues to make a series of higher lows and higher highs.
The 20 DMA is starting to curl upwards from 1665, the MACD is positive and RSI continues to favour the bulls.
A consistently strong oil price, now above $94 a barrel, and a weakened dollar are also helping gold to stabilise and move higher after the recent correction to 1625.
For our subscribers at www.goldtradingexperts.com, today's video looks at yesterday's price action and candlestick formation in more detail and our targets for this rally.
Gold has now closed above its 200 DMA for three sessions in a row and continues to make a series of higher lows and higher highs.
The 20 DMA is starting to curl upwards from 1665, the MACD is positive and RSI continues to favour the bulls.
A consistently strong oil price, now above $94 a barrel, and a weakened dollar are also helping gold to stabilise and move higher after the recent correction to 1625.
For our subscribers at www.goldtradingexperts.com, today's video looks at yesterday's price action and candlestick formation in more detail and our targets for this rally.