Gold prices recorded a modest pullback in recent intraday trading, taking a breather after a strong upward run. The pause appears to be a technical correction, aimed at easing the overbought conditions reflected by the Relative Strength Index (RSI), where negative overlapping signals have started to emerge.
Despite this temporary retreat, the broader outlook remains positive. The price continues to benefit from a bullish technical setup — a falling wedge pattern — on the short-term chart. Additionally, sustained trading above the 50-period Exponential Moving Average (EMA50) adds to the underlying positive pressure, suggesting gold may soon regain upward momentum.
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