Gold prices have been developing within an upward sloping channel in the short-term view with strong resistance at 2,336 and the 200-period simple moving average (SMA) at 2,345. The mid-level of the Bollinger band (20-period SMA) and the 50-period SMA posted a bullish crossover, and the technical oscillators are heading north. The MACD is standing slightly above its trigger line above the zero level, while the RSI is ticking up beyond the 50 level. Immediate resistance comes from 2,336 and the 200-period SMA at 2,345, where also the upper Bollinger band lies. Even higher, a climb above the 2,355 bar could endorse the ... (full story)