XAUUSD Daily Chart:
The Gold gradual tendency to go up over the short term drove it to have a closer place to $1300 psychological level.
The gold is now at a higher place above its daily SMA50 and its daily SMA100 and its daily SMA200 which could pass below its formed bottom on last Oct. 6 at $1260.60.
As the selling pressure on gold has lost momentum since its bouncing up on last Oct. 27 from $1263.73 to keep this bottom unbroken.
XAUUSD is now trading in its 16th consecutive day of being above its daily Parabolic SAR (step 0.02, maximum 0.2) which is reading today $1283.20.
XAUUSD daily RSI-14 is referring now to existence inside its neutral area reading 57.384.
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 75.432 leading to the upside its signal line which is in the same area at 74.273.
Important levels: Daily SMA50 @ $1283.09, Daily SMA100 @ $1284.91 and Daily SMA200 @ $1266.49
S&R:
S1: $1260.60
S2: $1251.16
S3: $1235.24
R1: $1306.03
R2: $1316.01
R3: $1335.04
Kind Regards
Global Market Strategist of FX-Recommends
Walid Salah El Din
The Gold gradual tendency to go up over the short term drove it to have a closer place to $1300 psychological level.
The gold is now at a higher place above its daily SMA50 and its daily SMA100 and its daily SMA200 which could pass below its formed bottom on last Oct. 6 at $1260.60.
As the selling pressure on gold has lost momentum since its bouncing up on last Oct. 27 from $1263.73 to keep this bottom unbroken.
XAUUSD is now trading in its 16th consecutive day of being above its daily Parabolic SAR (step 0.02, maximum 0.2) which is reading today $1283.20.
XAUUSD daily RSI-14 is referring now to existence inside its neutral area reading 57.384.
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 75.432 leading to the upside its signal line which is in the same area at 74.273.
Important levels: Daily SMA50 @ $1283.09, Daily SMA100 @ $1284.91 and Daily SMA200 @ $1266.49
S&R:
S1: $1260.60
S2: $1251.16
S3: $1235.24
R1: $1306.03
R2: $1316.01
R3: $1335.04
Kind Regards
Global Market Strategist of FX-Recommends
Walid Salah El Din