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 following the alloy faced rejection at the 50-daily shifting the everyday (DMA), today at $1875.
On Wednesday, gold fell pretty much as one % to close to the $1825 region plus spent the rest of the week meandering near the latter, while using upside tries 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 critical to reviving the retrieval momentum from four month troughs of $1765.
Meanwhile, the 200 DMA assistance at $1809 is the level to beat for the bears. The 14 day Relative Strength Index (RSI) settled the week during 47.01, keeping the odds for extra downside alive.
Additionally, a failure to give a weekly closing over the crucial short-term hurdle of 21 DMA, also suggests that more declines might remain in the offing.
However, the Fed’s final monetary policy decision of this season along with a likely US fiscal stimulus deal might have a significant impact on the gold price activity within 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
Everyday SMA20 1838.62
Everyday SMA50 1874.97
Everyday SMA100 1910.26
Daily SMA200 1809.34
Earlier Daily High 1847.78
Earlier Daily Low 1824.16
Earlier Weekly High 1875.34
Previous Weekly Low 1822.22
Previous Monthly High 1965.58
Earlier Monthly Low 1764.6
Daily Fibonacci 38.2% 1838.76
Everyday Fibonacci 61.8% 1833.18
Day Pivot Point S1 1826.41
Daily Pivot Point S2 1813.47
Everyday Pivot Point S3 1802.79
Everyday Pivot Point R1 1850.03
Day Pivot Point R2 1860.71
Everyday Pivot Point R3 1873.65