Gold (XAU/USD) resumed the bearish momentum of its following a brief recovery from multi month lows sub-1dolar1 1800 in the last week.
The sellers returned following the metal faced rejection at the 50-daily moving typical (DMA), now at $1875.
On Wednesday, gold fell pretty much as 1 % to in close proximity to the $1825 region plus paid the rest of the week meandering close to the latter, with the upside tries capped by the 21-DMA of $1841.
Gold Price Chart: Daily
XAU/USD’s daily chart clearly shows that the retail price proceeds to oscillate in a determined range. Acceptance above the 50 DMA is actually important to reviving the retrieval momentum from four-month troughs of $1765.
Meanwhile, the 200 DMA support during $1809 is the level to get over for the bears. The 14-day Relative Strength Index (RSI) settled the week at 47.01, keeping the odds for further downside alive.
In addition, a failure to give a weekly closing over the critical short term hurdle of 21-DMA, also hints that more declines might stay in the offing.
Nevertheless, the Fed’s final monetary policy decision of this year and a probable US fiscal stimulus deal can have a big influence on the gold price activity in the week ahead.
Gold Additional levels
These days last price 1839.34
Now Daily Change 0.00
Today Daily Change % 0.00
Now daily open 1839.34
Everyday SMA20 1838.62
Daily SMA50 1874.97
Everyday SMA100 1910.26
Everyday SMA200 1809.34
Earlier Daily High 1847.78
Previous Daily Low 1824.16
Previous Weekly High 1875.34
Previous Weekly Low 1822.22
Earlier Monthly High 1965.58
Earlier Monthly Low 1764.6
Everyday Fibonacci 38.2% 1838.76
Everyday Fibonacci 61.8% 1833.18
Everyday Pivot Point S1 1826.41
Day Pivot Point S2 1813.47
Everyday Pivot Point S3 1802.79
Everyday Pivot Point R1 1850.03
Everyday Pivot Point R2 1860.71
Day Pivot Point R3 1873.65