Technical analysis: Gold price crushes Head-and-Shoulders neckline, aims for $2,400
Gold price has decisively broken the Head-and-Shoulders neckline, lifting spot prices near the $2,390 mark, indicating that bulls are in charge and higher prices lie ahead.
The momentum has shifted in buyers' favor as depicted by a bullish Relative Strength Index (RSI). A daily close above the June 21 high of $2,368 could open the door for a higher trading range within the $2,370-$2,400 area, with buyers targeting higher prices.
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