GOLD Spot technical analysis

GOLD Spot

Gold is trading above $ 1875.00 per Troy ounce on the weaker dollar and expectations of its further decline. Continued demand for stocks, along with the massive stimulus package in the US which weighs on the dollar and drives up the gold.

Technical side:

The price is above the middle Bollinger band, above SMA 5 and SMA 14. The moving averages have crossed and suggest selling. RSI is above the 50% level and is growing weakly. Stoch are entering the overbought zone.

GOLD Spot online: monitor the price movement in real time.

Trading recommendations:

If the price fixes above 1875.00, it may go further up to 1900.00.