XAUUSD Daily Chart:
XAUUSD is now trading near $1275 after yesterday exposure to higher downside momentum on extending the slide below this Apr. 4 low at $1280.93.
This slide extension came after The gold lost last week more of its upside momentum by forming another lower high at $1310.59 to come below $1324.52 which has been formed on Last Mar. 25 below last Feb Peak at $1346.73
After diving below its daily SMA50 last week, The gold extended its slide to be trading currently below its daily SMA100 in another dovish signal.
XAUUSD is trading now in its third day in a row below its daily Parabolic SAR (step 0.02, maximum 0.2) which is reading today $1308.
The daily chart of XAUUSD shows that its RSI-14 is now in lower place inside the neutral region reading 36.740.
XAUUSD daily Stochastic Oscillator (5, 3, 3) which is more sensitive to the volatility is having now its main line inside its oversold territory below 20 reading 11.864 leading to the downside its signal line which is higher in the same region at 13.744, after negative crossover just below its overbought area above 80.
Important levels: Daily SMA50 @ $1304, Daily SMA100 @ $1288 and Daily SMA200 @ $1250
The Closest Experienced S&R:
S1: $1272.99
S2: $1253.46
S3: $1232.95
R1: $1310.59
R2: $1324.52
R3: $1346.73
Have a good day
Kind Regards
Global Market Strategist of FX-Recommends
Walid Salah El Din
XAUUSD is now trading near $1275 after yesterday exposure to higher downside momentum on extending the slide below this Apr. 4 low at $1280.93.
This slide extension came after The gold lost last week more of its upside momentum by forming another lower high at $1310.59 to come below $1324.52 which has been formed on Last Mar. 25 below last Feb Peak at $1346.73
After diving below its daily SMA50 last week, The gold extended its slide to be trading currently below its daily SMA100 in another dovish signal.
XAUUSD is trading now in its third day in a row below its daily Parabolic SAR (step 0.02, maximum 0.2) which is reading today $1308.
The daily chart of XAUUSD shows that its RSI-14 is now in lower place inside the neutral region reading 36.740.
XAUUSD daily Stochastic Oscillator (5, 3, 3) which is more sensitive to the volatility is having now its main line inside its oversold territory below 20 reading 11.864 leading to the downside its signal line which is higher in the same region at 13.744, after negative crossover just below its overbought area above 80.
Important levels: Daily SMA50 @ $1304, Daily SMA100 @ $1288 and Daily SMA200 @ $1250
The Closest Experienced S&R:
S1: $1272.99
S2: $1253.46
S3: $1232.95
R1: $1310.59
R2: $1324.52
R3: $1346.73
Have a good day
Kind Regards
Global Market Strategist of FX-Recommends
Walid Salah El Din