4th December 2019 - XAUUSD Daily Tech Analysis

Walid Salah Eldin

Master Trader
Feb 15, 2016
XAUUSD Daily Chart

XAUUSD-Daily-04-12-2019 08-43-47 ص.jpg

After holding around $1460 per ounce for more than 2 weeks, XAUUSD could extend its rebounding from $1445.65 to $1481.71 yesterday.
XAUUSD is having now closer existence to its daily SMA50 and its daily SMA100 which are moving just above it.
XAUUSD is trading now in its day number 11 of continued being above its daily Parabolic SAR (step 0.02, maximum 0.2) which is reading today $1452, after it could form a higher low at $1450.19 to hold above $1445.65 low of last Nov. 12.

The daily chart of XAUUSD shows that its RSI-14 is now at a higher place inside its neutral area reading 54.854.
XAUUSD daily Stochastic Oscillator (5, 3, 3) which is more sensitive to the volatility is having now its main line inside its overbought territory reading 86.904, leading to the upside its signal line which is lower inside the neutral area reading 74.569, after positive crossover just inside this same area.

Important levels: Daily SMA50 @ $1482, Daily SMA100 @ $1486 and Daily SMA200 @ $1402
The Closest Experienced S&R:
S1: $1445.65
S2: $1381.82
S3: $1319.90
R1: $1519.54
R2: $1535.72
R3: $1557.02

Kind Regards
Global Market Strategist of FX-Recommends
Walid Salah El Din