Gold Price Selloff Pushes RSI Towards Oversold Territory
The price of gold takes out the August low ($1885) as it continues to trade within the downward trending channel from earlier this year.
Gold Price Outlook
The price of gold appears to have reversed ahead of the September high ($1953) as it trades back below the 50-Day SMA ($1931), and bullion may track the negative slope in the moving average as it trades to a fresh monthly low ($1880).
A close below the $1886 (23.6% Fibonacci extension) to $1896 (61.8% Fibonacci retracement) region may push the price of gold towards $1843 (50% Fibonacci retracement), with the next area of interest coming in around the March low ($1809).
Will keep a close eye on the Relative Strength Index (RSI) as it approaches oversold territory, but the oscillator may show the bearish momentum abating if it fails to push below 30.
Gold Price Outlook
The price of gold appears to have reversed ahead of the September high ($1953) as it trades back below the 50-Day SMA ($1931), and bullion may track the negative slope in the moving average as it trades to a fresh monthly low ($1880).
A close below the $1886 (23.6% Fibonacci extension) to $1896 (61.8% Fibonacci retracement) region may push the price of gold towards $1843 (50% Fibonacci retracement), with the next area of interest coming in around the March low ($1809).
Will keep a close eye on the Relative Strength Index (RSI) as it approaches oversold territory, but the oscillator may show the bearish momentum abating if it fails to push below 30.
면책사항
이 정보와 게시물은 TradingView에서 제공하거나 보증하는 금융, 투자, 거래 또는 기타 유형의 조언이나 권고 사항을 의미하거나 구성하지 않습니다. 자세한 내용은 이용 약관을 참고하세요.