The price of gold is on pace to close at a new record level today. A. How close level is $2832.30 on Monday, April 15. The low this week was on Monday at $2324.42. The point today at $2417.89 was the highest price for the week. The high intraday price was reached last Friday at $2431.78.
For the tree week the price is currently up around 2.37%.
Looking at the hourly chart below, the price action has been up and down this week, but the 200-hour MA has been a good job stalling the falls recently. It would take a move below that MA level – and staying below – to increase the bearish bias.
Gold has been stalling falls at the 200 hour MA
This article was originally published by Forexlive.com. Read the original article here.