Gold has been in an uptrend since late June when the price found its feet slightly below the 1,900 psychological mark. Even though bullion recently stormed to a fresh two-month high of 1,984, it has been trading sideways for the last few four-hour sessions, appearing unable to extend its rally. The momentum indicators are endorsing a bullish near-term bias. Specifically, the RSI is holding above its 70-overbought zone, while the MACD is strengthening above both zero and its red signal line. Considering that the price is trading very close to its upper Bollinger Band, it could also be argued that it has reached ... (full story)