Technical Analysis: Gold price remains below $2,050 hurdle, bearish potential seems intactFrom a technical perspective, any subsequent move up might continue to confront stiff resistance near the $2,050-$2,048 region. The said area should now act as a key pivotal point for intraday traders, which if cleared should lift the Gold price to the next relevant hurdle near the $2,064-2,065 zone. Given that oscillators on the daily chart are still holding in the positive territory, the upward trajectory could get extended further towards the $2,077 region en route to the $2,100 round figure.On the flip side, the weekly swing low, around the $2,030 zone, seems to protect the immediate downside. This is followed by the 50-day Simple Moving Average (SMA), currently around the $2,011-2,010 region, and the $2,000 psychological mark. A convincing break below the latter will be seen as a fresh trigger for bearish traders and set the stage for the resumption of the downtrend witnessed over the past week or so. By Fxstreat.com