Gold has a low momentum

[fx88vn]

Gold prices have surged in recent weeks, where prices have climbed almost 10% since mid-July. There are signs however, that a bearish reversal is imminent. Price action reached a market top at the 1359.35 price level. There has since been a drop in price to the 1337 price level, with RSI approaching the 70 overbought line after momentum broke above the resistance level. MACD has flattened above the zero line. A candle closing below the zero line on RSI would confirm the downtrend.

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