The steep price increase of the gold price since early March recently led to a sharp correction, during which the $3,000 mark was also breached. However, support was provided by the gray line, which still acted as resistance in February, and the blue upward trend line that has existed since the lower gray resistance line was overcome at the end of January.
Both average lines continue to rise, and the 100-day line continues to run clearly above the 200-day line.
The stochastic indicator recently generated a buy signal – the MACD is likely to achieve this today, Friday. With a value of 1.0, the Overbought/Oversold indicator has again reached the level it frequently held in recent months.
Source: Comdirect
