30 May 2019
Gold technical analysis: Oscillating around 20-D EMA, bears look to 200-D SMA
- The technical outlook is much the same midweek as it was at the start of the week.
- The price is oscillating around the 20-D EMA losing sights of the channel resistance.
- A re-run of the downside will open prospects for the double bottom lows at 1266 ahead of 1262.
- Below there, the 200-D SMA is located at 1260 while 1251 marks the 10th Dec swing highs.
- Bulls look to the 61.8% Fibo at 1290 ahead of 1297 as the trend line resistance.
- 1303 is recent swing fractal high.
