Gold technical analysis: Bulls showing lack of commitments

The precious metal's prices have consolidated in 1381 and 1439. There are a series of bearish pin bars on the daily charts, signifying resistance and  |  12/07/2019 00:40

The precious metal's prices have consolidated in 1381 and 1439. There are a series of bearish pin bars on the daily charts, signifying resistance and lack of commitment from the buyers. The 20-day moving average supports but on a break lower, bears would target a 50% retracement of the April swing lows to late June swing highs around 1352. On the flipside, however, bulls broke the 1410 level and marked 1418 tops. Bulls can look ahead to the 1440 key resistance which makes way for a continuation to the May 2012 lows at 1527.
 

 

 

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