The Gold is now moving in intersection with its daily SMA100 below its daily SMA50 but above daily SMA200 which supports it over longer range.
The descending pressure on gold lost momentum by bouncing up last Friday from $1263.73 to keep its supporting level which has been formed on Oct. 11 at 1260.6 unbroken.
XAUUSD is now trading in its 9th consecutive day of being below its daily Parabolic SAR (step 0.02, maximum 0.2) which is reading today $1291.23.
XAUUSD daily RSI-14 is referring now to existence inside its neutral area reading 44.848.
XAUUSD daily Stochastic Oscillator (5, 3, 3) which is more sensitive to the volatility is having now its main line in its neutral territory at 60.187 leading to the upside its signal line which is in the same area at 40.968.
Important levels: Daily SMA50 @ $1298.33, Daily SMA100 @ $1275.53 and Daily SMA200 @ $1260.03
S&R:
S1: $1260.60
S2: $1251.16
S3: $1235.24
R1: $1291.06
R2: $1306.03
R3: $1316.01
Have a good day
Kind Regards
Global Market Strategist of FX-Recommends
Walid Salah El Din