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The Price Of Gold (XAU/USD) Confirmed The Bullish Attitude

The Price Of Gold (XAU/USD) Confirmed The Bullish Attitude| FXMAG.COM
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  1. Has the tide turned against XAU/USD bears?

    Gold price is treading water near two-week highs. XAU/USD could see more gains as the critical 21-Daily Moving Average (DMA) at $1,680 is reclaimed and the Relative Strength Index (RSI) flips bullish, FXStreet’s Dhwani Mehta reports.

    Has the tide turned against XAU/USD bears?

    “Gold price defied the bearish odds and jumped above the descending 21 DMA at $1,680, closing Monday above that level. This has affirmed a bullish bias, especially after the 14-day RSI swung into positive territory for the first time since August 16.”

    “Bulls need to clear daily highs to challenge the flattish 50 DMA at $1,724. Ahead of that, the September 14 high at $1,707 could test bearish commitments.”

    “On the downside, the 21 DMA is seen as crucial support, below which the rising trendline support at $1,667 will offer some cushion to bulls. Further down, the $1,660 support area will be a tough nut to crack for bears.”

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