Gold price, page-7571

Due to technicals. Overbought for the moment and hence the risk of a pullback or a pause has increased. Hence an increase in sellers. However, one should not automatically expect a large reversal and POG can continue ascending whilst skirting this oversold positions. The key is to remain above ma50 at 1299/1300 and wait for the MA10/20 to catch up.
Hurdles on the upside in the short term are the 1325 levels where we meet the LT downtrend from All time POG peak. However the downside support needs to hold at 1300 then back to that 1292 res.
Nothing just goes up in a straight line.