Gold price is struggling to extend its reversal move above the horizontal resistance plotted from February 21 high at $1,843.90 on a two-hour scale. Earlier, the precious metal delivered a breakout of the downward-sloping trendline plotted from February 9 high at $1,890.27.
After a vertical move, a mean reversion to the 20-period Exponential Moving Average (EMA) at $1,831.50 is highly expected.
The Relative Strength Index (RSI) (14) has not surrendered the bullish range of 60.00-80.00, indicating that the upside momentum is still active.
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