Gold Price Reaches Key Resistance Level at $4,400
The gold price saw a slight decline during its latest intraday trading session after retesting the key resistance level at $4,400.
This move came despite strong gains that helped alleviate oversold conditions on the relative strength indicators, amid a steep short-term bearish corrective wave.
Negative pressure continues to stem from gold trading below its 50-day exponential moving average (EMA50), reducing chances of a full recovery in the near term.