XAUUSD could rebound from $1324.25 to be trading now close to $1335 on its sixth day of consecutive being above its daily Parabolic SAR (step 0.02, maximum 0.2) which is reading today $1314.22.
Having a higher low at $1324.25 drove the attention back to the upside over the short term, but over longer range the gold is still exposed to slide with its continued existence below the formed lower high in the beginning of this week at $1344.72 which came below last Sep. 8 peak at $1357.52
XAUUSD is having now higher place above its daily SMA50, its daily SMA100 and its daily SMA200.
XAUUSD daily RSI-14 is referring now to existence inside its neutral area close to its overbought area above 70 reading 67.354.
XAUUSD daily Stochastic Oscillator (5, 3, 3) which is more sensitive to the volatility is having now its main line inside its neutral territory at 37.391 leading to the downside its signal line which is higher in the same territory at 53.603, after topping inside the its overbought region above 80.
Important levels: Daily SMA50 @ $1288, Daily SMA100 @ $1291 and Daily SMA200 @ $1275
S&R:
S1: $1324.25
S2: $1305.89
S3: $1250.49
R1: $1344.72
R2: $1357.52
R3: $1375.20
Have a good day
Kind Regards
Global Market Strategist of FX-Recommends
Walid Salah El Din
Having a higher low at $1324.25 drove the attention back to the upside over the short term, but over longer range the gold is still exposed to slide with its continued existence below the formed lower high in the beginning of this week at $1344.72 which came below last Sep. 8 peak at $1357.52
XAUUSD is having now higher place above its daily SMA50, its daily SMA100 and its daily SMA200.
XAUUSD daily RSI-14 is referring now to existence inside its neutral area close to its overbought area above 70 reading 67.354.
XAUUSD daily Stochastic Oscillator (5, 3, 3) which is more sensitive to the volatility is having now its main line inside its neutral territory at 37.391 leading to the downside its signal line which is higher in the same territory at 53.603, after topping inside the its overbought region above 80.
Important levels: Daily SMA50 @ $1288, Daily SMA100 @ $1291 and Daily SMA200 @ $1275
S&R:
S1: $1324.25
S2: $1305.89
S3: $1250.49
R1: $1344.72
R2: $1357.52
R3: $1375.20
Have a good day
Kind Regards
Global Market Strategist of FX-Recommends
Walid Salah El Din
