Gold (XAU/USD) resumed the bearish momentum of its following a short recovery from multi month lows sub-1dolar1 1800 within the last week.
The sellers returned following the metal faced rejection at the 50-daily moving typical (DMA), today at $1875.
On Wednesday, gold fell almost as one % to close to the $1825 region plus invested the rest of the week meandering near the latter, while using upside endeavors capped by the 21 DMA of $1841.
Gold Price Chart: Daily
XAU/USD’s daily chart clearly shows that the cost continues to oscillate in a determined range. Acceptance above the 50 DMA is actually important to reviving the healing momentum from four month troughs of $1765.
Meanwhile, the 200-DMA assistance at $1809 is the degree to get over for the bears. The 14 day Relative Strength Index (RSI) settled the week at 47.01, keeping the odds for further downside alive.
Additionally, a failure to deliver a weekly closing over the crucial short-term hurdle of 21-DMA, also hints that more declines could stay in the offing.
Nevertheless, the Fed’s final monetary policy decision of this year and a likely US fiscal stimulus deal could have a major impact on the gold price action inside the week ahead.
Gold Additional levels
These days previous price 1839.34
Now Daily Change 0.00
Today Daily Change % 0.00
Today every day open 1839.34
Day SMA20 1838.62
Daily SMA50 1874.97
Day SMA100 1910.26
Day SMA200 1809.34
Earlier Daily High 1847.78
Earlier Daily Low 1824.16
Previous Weekly High 1875.34
Previous Weekly Low 1822.22
Earlier Monthly High 1965.58
Earlier Monthly Low 1764.6
Everyday Fibonacci 38.2% 1838.76
Everyday Fibonacci 61.8% 1833.18
Everyday Pivot Point S1 1826.41
Everyday Pivot Point S2 1813.47
Day Pivot Point S3 1802.79
Everyday Pivot Point R1 1850.03
Everyday Pivot Point R2 1860.71
Everyday Pivot Point R3 1873.65