Gold (XAU/USD) resumed the bearish momentum of its following a short recovery from multi-month lows sub-1dolar1 1800 in the last week.
The sellers returned following the metal faced rejection at the 50 daily carrying typical (DMA), today at $1875.
On Wednesday, gold fell pretty much as one % to in close proximity to the $1825 region plus paid the remainder 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 daily chart clearly shows that the price continues to oscillate in a defined range. Acceptance above the 50 DMA is actually critical to reviving the healing momentum from four month troughs of $1765.
Meanwhile, the 200 DMA support 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 extra downside alive.
Additionally, a failure to deliver a weekly closing above the critical 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 year and a probable US fiscal stimulus deal could have a big influence on the gold price action within the week ahead.
Gold Additional levels
These days last price 1839.34
Now Daily Change 0.00
Today Daily Change % 0.00
Today daily open 1839.34
Daily SMA20 1838.62
Everyday SMA50 1874.97
Everyday SMA100 1910.26
Daily SMA200 1809.34
Earlier Daily High 1847.78
Previous Daily Low 1824.16
Earlier 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
Everyday Fibonacci 61.8% 1833.18
Everyday Pivot Point S1 1826.41
Day Pivot Point S2 1813.47
Day Pivot Point S3 1802.79
Everyday Pivot Point R1 1850.03
Daily Pivot Point R2 1860.71
Day Pivot Point R3 1873.65