“¢ The precious metal built on the recent recovery from one-month lows and continued gaining positive traction for the seventh session in the previous eight.
“¢ The commodity now seems to have cleared a resistance marked by short-term descending trend-line, extending from highs touched in Oct. and early Nov.
“¢ Technical indicators on hourly charts have managed to hold in bullish territory and support prospects for an extension of the near-term positive momentum.
“¢ However, oscillators on the daily chart have started losing traction and hence, failure to attract any follow-through buying might prompt some aggressive long-unwinding trade.
Gold 4-hourly chart
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XAU/USD
Overview:
Today Last Price: 1227.87
Today Daily change: 2.1e+2 pips
Today Daily change %: 0.171%
Today Daily Open: 1225.77
Trends:
Previous Daily SMA20: 1218.93
Previous Daily SMA50: 1216.81
Previous Daily SMA100: 1207.08
Previous Daily SMA200: 1237.73
Levels:
Previous Daily High: 1230.3
Previous Daily Low: 1219.4
Previous Weekly High: 1225.4
Previous Weekly Low: 1196
Previous Monthly High: 1243.43
Previous Monthly Low: 1182.54
Previous Daily Fibonacci 38.2%: 1226.14
Previous Daily Fibonacci 61.8%: 1223.56
Previous Daily Pivot Point S1: 1220.01
Previous Daily Pivot Point S2: 1214.26
Previous Daily Pivot Point S3: 1209.11
Previous Daily Pivot Point R1: 1230.91
Previous Daily Pivot Point R2: 1236.06
Previous Daily Pivot Point R3: 1241.81
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