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Trading Central: Gold Upside Prevails -- Market Talk

8 Sep 2017 7:46 am

0746 GMT [Dow Jones] Gold accelerated on the upside after breaking above the declining trend line, which emerged on September 5, on the 30-minute chart. A new challenge to $1,362 seems more likely to occur. The upward momentum is further reinforced by both rising 20-period and 50-period moving averages. The MACD is above its signal line and the 0-level. The RSI is supported by the rising trend line, which emerged on September 6. As long as $1,342 is not broken, look for a further upside to $1,362 and even to $1,368 in extension. Only a break below $1,342 would the outlook to negative and call for a return with $1,332.5 as a target. Gold is trading at $1,354 an ounce. [This piece contains the opinions of Trading Central and does not constitute personalized investment advice or form part of any invitation or inducement to buy or sell any security. The author has been prohibited by Trading Central from purchasing or otherwise directly or indirectly acquiring any direct or indirect beneficial ownership of any instruments or markets for which Trading Central or its affiliates issues recommendations. To read more, visit bit.ly/1MehCU9.] (analysts-europe@tradingcentral.com)
 

(END) Dow Jones Newswires

September 08, 2017 03:46 ET (07:46 GMT)

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