Gold (XAU/USD) resumed the bearish momentum of its following a quick recovery from multi month lows sub-1dolar1 1800 in the last week.
The sellers returned after the alloy faced rejection at the 50-daily carrying the everyday (DMA), now at $1875.
On Wednesday, gold fell as much as 1 % to in close proximity to the $1825 region and paid the majority of the week meandering near the latter, using the upside tries 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 defined range. Acceptance above the 50 DMA is actually essential to reviving the retrieval momentum from four-month troughs of $1765.
Meanwhile, the 200 DMA assistance during $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 odds for additional downside alive.
Additionally, a failure to give a weekly closing on top of the crucial short-term hurdle of 21 DMA, also suggests that more declines could remain in the offing.
Nevertheless, the Fed’s final monetary policy choice of this season and a likely US fiscal stimulus deal could have a significant influence on the gold price activity within the week ahead.
Gold Additional levels
These days last price 1839.34
Today Daily Change 0.00
Today Daily Change % 0.00
Now daily open 1839.34
Day SMA20 1838.62
Daily SMA50 1874.97
Everyday SMA100 1910.26
Day SMA200 1809.34
Previous Daily High 1847.78
Earlier Daily Low 1824.16
Previous Weekly High 1875.34
Earlier Weekly Low 1822.22
Earlier Monthly High 1965.58
Previous Monthly Low 1764.6
Everyday Fibonacci 38.2% 1838.76
Daily Fibonacci 61.8% 1833.18
Everyday Pivot Point S1 1826.41
Daily Pivot Point S2 1813.47
Daily Pivot Point S3 1802.79
Everyday Pivot Point R1 1850.03
Everyday Pivot Point R2 1860.71
Day Pivot Point R3 1873.65