Gold (XAU/USD) resumed the bearish momentum of its following a brief recovery from multi-month lows sub-1dolar1 1800 during the last week.
The sellers returned after the metallic faced rejection at the 50 daily carrying typical (DMA), now at $1875.
On Wednesday, gold fell almost as 1 % to near the $1825 region and spent the majority of the week meandering close to the latter, while using upside endeavors capped by the 21-DMA of $1841.
Gold Price Chart: Daily
XAU/USD’s daily chart definitely shows that the retail price continues to oscillate in a determined range. Acceptance above the 50 DMA is critical to reviving the retrieval 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 additional downside alive.
In addition, a failure to provide a weekly closing above the crucial short-term hurdle of 21 DMA, also suggests that more declines may just remain in the offing.
Nonetheless, the Fed’s final monetary policy choice of this season as well as a probable US fiscal stimulus deal can have a significant effect on the gold price action inside the week ahead.
Gold Additional levels
These days previous price 1839.34
Today Daily Change 0.00
Today Daily Change % 0.00
Today daily open 1839.34
Day SMA20 1838.62
Everyday SMA50 1874.97
Daily SMA100 1910.26
Day 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
Day Pivot Point S1 1826.41
Everyday Pivot Point S2 1813.47
Daily Pivot Point S3 1802.79
Day Pivot Point R1 1850.03
Everyday Pivot Point R2 1860.71
Everyday Pivot Point R3 1873.65