GOLD analysis for 28.09.2023
Based on multiple technical indicators, gold appears to be exhibiting bearish momentum in the 4-hour timeframe. The short-term Simple Moving Average (SMA) has crossed below the long-term SMA, which is often interpreted as a sell signal by traders. The Relative Strength Index (RSI) is significantly below the 30 level, currently at 16.14, suggesting that gold might be in oversold territory. Further validation of this bearish sentiment is the RSI-based moving...