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 average (DMA), today at $1875.
On Wednesday, gold fell as much as one % to close to the $1825 region plus paid the rest of the week meandering close to the latter, with the upside tries capped by the 21 DMA of $1841.
Gold Price Chart: Daily
XAU/USD’s daily chart definitely shows that the cost proceeds to oscillate in a determined range. Acceptance above the 50-DMA is actually important to reviving the retrieval momentum from four-month troughs of $1765.
Meanwhile, the 200-DMA support at $1809 is the degree to get over for the bears. The 14 day Relative Strength Index (RSI) settled the week during 47.01, keeping the chances for extra downside alive.
Additionally, a failure to give a weekly closing on top of the vital short-term hurdle of 21 DMA, also suggests that more declines could stay in the offing.
Nevertheless, the Fed’s final monetary policy decision of this season and a likely US fiscal stimulus deal might have a major impact on the gold price activity within the week ahead.
Gold Additional levels
Today last price 1839.34
Now Daily Change 0.00
Today Daily Change % 0.00
Today daily open 1839.34
Everyday SMA20 1838.62
Day SMA50 1874.97
Day SMA100 1910.26
Daily SMA200 1809.34
Earlier Daily High 1847.78
Earlier Daily Low 1824.16
Previous Weekly High 1875.34
Earlier Weekly Low 1822.22
Previous Monthly High 1965.58
Previous Monthly Low 1764.6
Everyday Fibonacci 38.2% 1838.76
Daily Fibonacci 61.8% 1833.18
Day Pivot Point S1 1826.41
Everyday Pivot Point S2 1813.47
Everyday Pivot Point S3 1802.79
Day Pivot Point R1 1850.03
Everyday Pivot Point R2 1860.71
Daily Pivot Point R3 1873.65