Gold Price Rally Pushes RSI into Overbought Zone
The price of gold climbs to a fresh yearly high ($2120) as it stages a four-day rally, while the Relative Strength Index (RSI) pushes into overbought territory for the first time this year.
Gold Price Outlook
The price of gold approaches the 2023 high ($2147) with a break/close above the $2141 (50% Fibonacci extension) to $2150 (100% Fibonacci extension) region opening up $2181 (61.8% Fibonacci extension).
The move above 70 in the RSI is likely to be accompanied by a further advance in gold like the price action from last year, but failure to test the 2023 high ($2147) may pull the oscillator back from overbought territory.
Failure to hold above $2102 (38.2% Fibonacci extension) may push the price of gold back towards the $2066 (23.6% Fibonacci retracement) to $2076 (78.6% Fibonacci extension) region, with the next area of interest coming in around $2053 (23.6% Fibonacci extension).
Gold Price Outlook
The price of gold approaches the 2023 high ($2147) with a break/close above the $2141 (50% Fibonacci extension) to $2150 (100% Fibonacci extension) region opening up $2181 (61.8% Fibonacci extension).
The move above 70 in the RSI is likely to be accompanied by a further advance in gold like the price action from last year, but failure to test the 2023 high ($2147) may pull the oscillator back from overbought territory.
Failure to hold above $2102 (38.2% Fibonacci extension) may push the price of gold back towards the $2066 (23.6% Fibonacci retracement) to $2076 (78.6% Fibonacci extension) region, with the next area of interest coming in around $2053 (23.6% Fibonacci extension).
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.