COMEX Gold futures are showing signs of some corrective moves after recent surge pushed the counter to a two and half month high. The uptick over recent days saw the futures break above 100 day Exponential Moving Average (EMA) and also pushed them above the upper Bollinger Band (currently around $1760 per ounce. The counter currently lingers around $1762 per ounce and a slide under the uppber Bollinger Band could pull it down towards the daily EMA100 at $1730 per ounce. The RSI -14 has also come off its overbought level of 70 now and could be indicating a short term top for the yellow metal.Powered by Commodity Insights
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