Gold's rebound from near six-week lows is losing steam below $4,400, with prices consolidating near $4,350. The 100-day moving average offers support near $4,318, but a decisive break below $4,255 could undermine the recovery.
Gold's recovery from near six-week lows around $4,255 is losing steam below $4,400 resistance, with prices consolidating near $4,350. Still, the broader rebound remains intact: the 100-day SMA offers support near $4,318.
Momentum, however, stays subdued. The RSI hovers around its neutral 50 mark, and the MACD sits close to zero, reflecting the lack of clear direction.
Next, a rebound near $4,318 could encourage another test of the 20-day SMA around $4,400. A break higher could expose $4,500, then the 200-day SMA near $4,541. However, a decisive break below $4,255 could undermine the recovery.
Source: Investing.com (snippet-based)
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