Gold prices broke out and moved above resistance near the June highs at 1,310. The next level of target resistance on golds climb is the May 2018 highs at 1,325. Above that are the 2018 highs at 1,365. Support on the yellow metal is seen near the 20-day moving average at 1,290. Momentum has turned positive as the MACD (moving average convergence divergence) index generated a crossover buy signal. This occurs as the MACD line (the 12-day moving average minus the 26-day moving average) crosses above the MACD signal line (the 9-day moving average of the MACD line. The MACD histogram is printing in the black with an upward sloping trajectory which points to higher prices.


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