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Gold Technical Analysis

The move lower continued Thursday with the close below the 200-DMA ($1285.1) the first since the sharp break above in late June.

Recent sideways trading resulted in a triangle forming on the dailies with

The correction from Tuesday’s 21-DMA failure continued for gold Wednesday as it starts to look a little heavy.

Stoxx50 continues to trade sideways within a broad 3129.1-3223.9 range.

Tuesday’s rally fell short of the 21-DMA before correcting lower and closing the day back below the 100-DMA

Stoxx50 continues to trade sideways within a broad 3129.1-3223.9 range.

Following on from the 200-DMA bounce last week gold managed a brief dip below the 100-DMA

Failure ahead of the 3223.9-3239.8 region is a concern for bulls with

Spot gold recovered some lost ground to end last week with it having bounced from just short of the 200-DMA.

The recovery from ahead of the key 3124.6-3129.1 support region stalled ahead of the

Recent pressure on the 100-DMA has finally taken its toll with gold also taking out the rising daily trend

The recovery from ahead of the key 3124.6-3129.1 support region continued Thursday with