Technical analysis: Gold rises despite RSI in overbought levels
The Gold price remains bullishly biased, and price action of the last couple of trading days appears to form a Bullish Harami chart pattern that reassembles an inside day. That suggests the non-yielding metal could resume its uptrend, even though the Relative Strength Index (RSI) is at overbought levels. That said, buyers need to challenge the $2,400 figure. Once cleared, that could pave the way to test the year-to-date (YTD) high at $2,431.78, ahead of $2,500.
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