Technical analysis: Gold’s rally set to continue after dipping to $2,303
Gold’s rally is set to continue with buyers gathering momentum. The Relative Strength Index (RSI), although at overbought conditions past the 70.00 level, aims north. Usually when an asset has a strong uptrend, the 80 reading is seen as the overbought extreme.
Earlier, Gold dipped to a low of $2,303 before resuming its upward climb. With that said, the first resistance would be the all-time peak at $2,354. Once cleared, the next stop would be $2,400, followed by the $2,500 figure.
On the flip side, the first support level would be $2,300. A breach of the latter will expose $2,250, followed by the $2,200 mark
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