Gold prices recover from weekly low, nears short-term key support line.
Sustained trading below 100-bar SMA, bearish MACD keep sellers hopeful.
200-bar SMA could question the downside below the support trend line.
Buyers will have multiple upside barriers to conquer during the recovery.
Gold prices register 0.12% gains on a day while bouncing off the weekly low, flashed the previous day, to $1,689, during the early Asian session on Friday. Even so, the bullion remains below 100-bar SMA amid bearish MACD.
As a result, the sellers remain directed towards breaking the three-week-old support line, currently around $1,680, which holds the key to the metal’s further drop towards a 200-bar SMA level of $1,640


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