XAUUSD Daily Chart:
After forming a floor at $1266.31 per ounce, XAUUSD has stepped on a higher low this week at $1319.61 per ounce to extend its appreciation to $1358.66
The gold could have a better view recently by dropping series of lower highs starting with its previous formed lower high at $1310.59 which came below Last Mar. 25 high at $1324.52, before dropping today its formed resistance on last Feb. 20 at $1346.73.
XAUUSD is having now higher existence above its daily SMA50, its daily SMA100 and its daily SMA200.
XAUUSD is trading now in its day number 11th of consecutive being above its daily Parabolic SAR (step 0.02, maximum 0.2) which is reading today $1311.
The daily chart of XAUUSD shows that its RSI-14 is now inside its oversold area above 70 reading 73.486.
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 68.861 leading to the upside its signal line which is lower in the same region at 50.068, after positive crossover inside the neutral area on forming a higher bottom at $1319.61.
Important levels: Daily SMA50 @ $1294, Daily SMA100 @ $1301 and Daily SMA200 @ $1266
The Closest Experienced S&R:
S1: $1319.61
S2: $1275.04
S3: $1266.31
R1: $1358.66
R2: $1366.06
R3: $1375.20
Kind Regards
Global Market Strategist of FX-Recommends
Walid Salah El Din
After forming a floor at $1266.31 per ounce, XAUUSD has stepped on a higher low this week at $1319.61 per ounce to extend its appreciation to $1358.66
The gold could have a better view recently by dropping series of lower highs starting with its previous formed lower high at $1310.59 which came below Last Mar. 25 high at $1324.52, before dropping today its formed resistance on last Feb. 20 at $1346.73.
XAUUSD is having now higher existence above its daily SMA50, its daily SMA100 and its daily SMA200.
XAUUSD is trading now in its day number 11th of consecutive being above its daily Parabolic SAR (step 0.02, maximum 0.2) which is reading today $1311.
The daily chart of XAUUSD shows that its RSI-14 is now inside its oversold area above 70 reading 73.486.
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 68.861 leading to the upside its signal line which is lower in the same region at 50.068, after positive crossover inside the neutral area on forming a higher bottom at $1319.61.
Important levels: Daily SMA50 @ $1294, Daily SMA100 @ $1301 and Daily SMA200 @ $1266
The Closest Experienced S&R:
S1: $1319.61
S2: $1275.04
S3: $1266.31
R1: $1358.66
R2: $1366.06
R3: $1375.20
Kind Regards
Global Market Strategist of FX-Recommends
Walid Salah El Din