Fri, 19 Feb 2021 10:01:38 GMT
Gold is pushed down by SMA
As the resistance of the 55-hour simple moving average approached the yellow metal's price from above, it pushed it into a test of the lower trend line of the recently added declining wedge pattern. On Friday morning, the lower trend line of the pattern was pierced, as the metal shortly traded below it before retracing back up.
In the near term