After sliding from its formed peak at $1557.03 on Sep. 4, XAUUSD is still showing ability to stand close to $1500 per ounce psychological level in its eleventh consecutive day below its daily Parabolic SAR (step 0.02, maximum 0.2) which is reading today $1520.
XAUUSD is still keeping existence above its daily SMA50 and it is still underpinned over longer range by continued existence above its daily SMA100 and its daily SMA200.
The daily chart of XAUUSD shows that its RSI-14 is now inside its neutral area reading 47.986.
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 34.638 and leading to the upside its signal line which is reading now 32.075, after positive crossover inside the oversold area below 20.
Important levels: Daily SMA50 @ $1481, Daily SMA100 @ $1409 and Daily SMA200 @ $1351
The Closest Experienced S&R:
S1: $1479.93
S2: $1381.80
S3: $1319.61
R1: $1557.03
R2: $1616.62
R3: $1697.10
Kind Regards
Global Market Strategist of FX-Recommends
Walid Salah El Din