Gold intraday: the RSI is overbought
Our pivot point is at 2063.50.
Our preference: the upside prevails as long as 2063.50 is support.
Alternative scenario: below 2063.50, expect 2055.50 and 2051.
Comment: the RSI is above 70. It could mean either that prices are in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is positive and above its signal line. The configuration is positive. Gold is above its 20 and 50 period moving average (respectively at 2053.60 and 2045.80).
Supports and resistances:
2094.50 **
2089.50 *
2085.00 **
2080.50
2070.79 last
2066.50
2063.50 **
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