RHB Retail Research: Gold futures may shift to sideways movement

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汇通财经2026/04/13 06:50

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Joseph Chai from RHB Retail Research stated in a research report that NYMEX gold futures may shift to horizontal fluctuations.
The analyst noted that the relative strength index of the futures is turning downward on the daily chart, which indicates that bullish momentum is weakening.
According to Chai, on the downside, if the futures break below the 20-day simple moving average, it may attract selling pressure and drag the commodity towards the $4,600 per ounce level.
The analyst added that on the upside, if the commodity breaks through the $5,000 per ounce resistance level, it will eliminate its bearish technical pattern.
Spot gold fell 0.4% to $4,726.27 per ounce.

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RHB Retail Research: Gold futures may shift to sideways movement

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