Gold (XAU/USD) resumed the bearish momentum of its following a short recovery from multi month lows sub-1dolar1 1800 during the last week.
The sellers returned following the alloy faced rejection at the 50 daily shifting average (DMA), today at $1875.
On Wednesday, gold fell as much as 1 % to in close proximity to the $1825 region plus spent 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 day chart clearly shows that the cost proceeds to oscillate in a determined 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 level to get over for the bears. The 14-day Relative Strength Index (RSI) settled the week during 47.01, keeping the chances for extra downside alive.
In addition, a failure to deliver a weekly closing over the crucial short-term hurdle of 21-DMA, also hints that more declines may just be in the offing.
However, 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 inside 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
Everyday SMA20 1838.62
Day SMA50 1874.97
Day SMA100 1910.26
Day SMA200 1809.34
Previous Daily High 1847.78
Earlier 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
Everyday Pivot Point S2 1813.47
Everyday Pivot Point S3 1802.79
Daily Pivot Point R1 1850.03
Day Pivot Point R2 1860.71
Day Pivot Point R3 1873.65