The gold is still trading now close to $1290 per ounce, After facing difficulty to surpass $1300 psychological level, following forming series of higher lows drove it higher above its daily SMA50, its daily SMA100 and its daily SMA200
XAUUSD is trading now in its day number 16 of consecutive being above its daily Parabolic SAR (step 0.02, maximum 0.2) which is reading today $1279.
The daily chart of XAUUSD shows that its RSI-14 is now inside its neutral area reading 66.702 coming down from its overbought area above 70.
XAUUSD daily Stochastic Oscillator (5, 3, 3) which is more sensitive to the volatility is having now its main line inside its neutral territory reading 57.971 and leading to the upside the signal line which is lower in the same region at 53.469, After positive crossover inside the neutral region by stepping on $1276.65 per ounce.
Important levels: Daily SMA50 @ $1242, Daily SMA100 @ $1224 and Daily SMA200 @ $1249
The Closest Experienced S&R:
S1: $1276.65
S2: $1253.46
S3: $1232.95
R1: $1298.61
R2: $1309.33
R3: $1325.91
Have a good day
Kind Regards
Global Market Strategist of FX-Recommends
Walid Salah El Din