The Gold is continued to move sideways

May 21, 2014 by

The gold is continued to trade sideways with little downwards movement. It has remained within the ascending triangle on a daily chart. With the strong UK retail Sales data, the precious metal heading downwards to test bottom line of the ascending triangle shown in a chart below. As it is getting closer to the corner of the triangle, it has expected to break the line soon or later.


xauusd daily 20.05.2014


The RSI(14) remained neutral in between 30 and 70 levels, while MACD(12.26.9) is moving sideways just below the 0.00 lines.