Technical Analysis: Gold price prints fresh lifetime highs near $2,290
Gold price secures another milestone in Wednesday’s session. The precious metal prints a fresh all-time high near $2,290 after extending above Tuesday’s high of $2,275. However, the yellow metal struggles to continue its six-day winning spell as momentum oscillators have turned extremely overbought. The 14-period Relative Strength Index (RSI) tests 80.00.
The near-term demand is strong as the RSI has been oscillating in the bullish range of 60.00-80.00 for more than a month, making it a “buy on dips” contender.
All short-to-long term Exponential Moving Averages (EMAs) are sloping higher, suggesting strong near-term demand. On the downside, March 21 high at $2,223 will be a major support area for the Gold price bulls
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