Gold found resistance at the upper channel line yet again and has turned back down from there.
On a more positive note, gold closed above the 20 DMA and has formed a "double bottom" on the short term chart at around 1624.
We want to see a close above the previous high at 1680 before we start to get interested in the bullish case.
On a more positive note, gold closed above the 20 DMA and has formed a "double bottom" on the short term chart at around 1624.
We want to see a close above the previous high at 1680 before we start to get interested in the bullish case.