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Technical Analysis: Gold stays above 100-day SMA, eyes key resistance near the 50-day SMA

guntur360
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Gold´s daily chart portrays the non-yielding metal as neutral to downwardly biased despite staying above the 200-day Simple Moving Average (SMA) at $1,965.46 and extending its gains toward the 50-day SMA at $2033.69. A breach of the latter will expose the $2,050, ahead of the latest cycle high at $2,065.60.

On the flip side, if sellers step in and push prices below the $2,000 figure, that will expose the 100-day SMA at $1,998. The next stop would be the December 13 low at $1,973.13, followed by the 200-day SMA at $1,965.47.


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