Gold - Stuck at weekly 200-MA, in expanding channel

16 Haz 2016

• Gold is struggling to take out weekly 200-MA seen today at $1313.20. This is the third week of gains for Gold and on intraday time frames the RSI is overbought.
  

• Hence, failure to take out weekly 200-MA hurdle if followed by a break below $1300 would shift risk in favor of a correction to $187 levels.
  

• On the higher side, fresh buying is seen once prices see a weekly closing above expanding channel resistance seen today at $1320