Technical Analysis: Gold climbs above $2,190
Gold price jumps above $2,190 amid multiple tailwinds. The precious metal is aiming to recapture the all-time highs slightly above $2,220. The near-term demand is upbeat as all short-to-long term Exponential Moving Averages (EMAs) are sloping higher.
The Gold price could face a hurdle near $2,250, which coincides with the 161.8% Fibonacci extension level, after breaking above the resistance of $2,220. The Fibonacci tool is plotted from December 4 high at $2,144.48 to December 13 low at $1,973.13. On the downside, December 4 high at $2,144.48 will support the Gold price bulls.
The 14-period Relative Strength Index (RSI) rebounds after cooling down to 64.00 from an extremely overbought zone
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