Gold technical analysis
Gold price is attempting to deliver a breakout of the Rising Channel chart pattern on a four-hour scale. The precious metal has delivered a perpendicular rally after picking demand near the round-level support of $1,800.00. The 20-period Exponential Moving Average (EMA) at $1,839.11 is accelerating, which adds to the upside filters.
Meanwhile, the Relative Strength Index (RSI) (14) is oscillating in the bullish range of 60.00-80.00, which indicates that the upside momentum has been triggered.
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