Gold (XAU/USD) resumed the bearish momentum of its following a brief recovery from multi-month lows sub-1dolar1 1800 within the last week.
The sellers returned after the metal faced rejection at the 50-daily carrying typical (DMA), today 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 close to the latter, using the upside endeavors capped by the 21 DMA of $1841.
Gold Price Chart: Daily
XAU/USD’s day chart definitely shows that the cost proceeds to oscillate in a determined range. Acceptance above the 50-DMA is important to reviving the healing momentum from four month troughs of $1765.
Meanwhile, the 200-DMA assistance during $1809 is the degree to beat for the bears. The 14 day Relative Strength Index (RSI) settled the week at 47.01, keeping the odds for extra downside alive.
In addition, a failure to deliver a weekly closing on top of the essential short-term hurdle of 21-DMA, also hints that more declines could remain in the offing.
Nonetheless, the Fed’s final monetary policy decision of this season as well as a probable US fiscal stimulus deal might have a significant impact on the gold price activity in the week ahead.
Gold Additional levels
These days previous price 1839.34
Now Daily Change 0.00
Today Daily Change % 0.00
Now daily open 1839.34
Daily SMA20 1838.62
Everyday SMA50 1874.97
Everyday SMA100 1910.26
Everyday SMA200 1809.34
Previous Daily High 1847.78
Previous Daily Low 1824.16
Previous Weekly High 1875.34
Previous 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
Daily Pivot Point S1 1826.41
Everyday Pivot Point S2 1813.47
Everyday Pivot Point S3 1802.79
Everyday Pivot Point R1 1850.03
Daily Pivot Point R2 1860.71
Daily Pivot Point R3 1873.65