Gold kept rising in its last intraday trading, to breach the historical resistance of $5,000 for the first time ever, confirming the strength of the dominant bullish momentum amid its stability above EMA50, which represents key dynamic support that reinforces the dominance of the main bullish trend on short-term basis.
The price get extra support by the positive signals’ emergence from relative strength indicators, after offloading its overbought conditions, opening the way for extending its intraday gains, and opens the way for targeting higher levels in the upcoming period, with the possibility of natural fluctuations emerging because of limited profit-taking, without undermining the bullish trend.