GOLD 30/05: The golden bears are still dominating

GOLD Gold price (XAU/USD) marks a zigzag move around daily bottom near 1942$ as bears continue to take control.

Gold price struggles to defend the recovery from 2.5-month horizontal support around 1932-35$ amid below 50.0 of the Relative Strength Index (RSI) line, set at 14 , which indicates a lack of bullish momentum.

Adding strength to the bearish trend are sluggish signals from the Moving Average Convergence and Divergence (MACD) indicator.
However, a clear break of the 1932-35$ area becomes necessary for gold sellers to believe.

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