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Gold intraday: the RSI is overbought
2023-12-01
835
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 trading above 70. This could mean that either prices are in a lasting uptrend or just overbought and that therefore a correction could shape (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 2053.50 and 2045.80).
Supports and resistances:
2093.50 **
2089.00 *
2084.50 **
2079.50
2070.05 last
2066.50
2063.50 **
The above information is provided by special analysts and is for reference only. CM Trade does not guarantee the accuracy, timeliness and completeness of the information content, so you should not place too much reliance on the information provided. CM Trade is not a company that provides financial advice, and only provides services of the nature of execution of orders. Readers are advised to seek relevant investment advice on their own. Please see our full disclaimer.
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