- Gold is currently trading at $1,237; the highest level since Nov.1 and looks set to extend the rally further, tracking the slide in the US 10-year treasury yield.
- Technically speaking, the safe haven yellow metal is looking north, having cleared the resistance if the trendline connecting the Oct. 26 low and Nov. 7 low. That breakout gained credence as prices moved above the horizontal resistance of $1,230.30 (Nov. 21 high).
- The 5- and 10-day exponential moving averages (EMAs) are also trending north.
- As a result, gold could test October high of $1,243 in the next couple of days.
- A close below the 10-day EMA would weaken the bullish pressure.
Daily Chart
Trend: Bullish
XAU/USD
Overview:
Today Last Price: 1237.06
Today Daily change: 6.2e+2 pips
Today Daily change %: 0.502%
Today Daily Open: 1230.88
Trends:
Previous Daily SMA20: 1217.57
Previous Daily SMA50: 1220.69
Previous Daily SMA100: 1209.38
Previous Daily SMA200: 1234.14
Levels:
Previous Daily High: 1234.96
Previous Daily Low: 1221.39
Previous Weekly High: 1231.8
Previous Weekly Low: 1211.2
Previous Monthly High: 1237.4
Previous Monthly Low: 1196.4
Previous Daily Fibonacci 38.2%: 1229.78
Previous Daily Fibonacci 61.8%: 1226.57
Previous Daily Pivot Point S1: 1223.2
Previous Daily Pivot Point S2: 1215.51
Previous Daily Pivot Point S3: 1209.63
Previous Daily Pivot Point R1: 1236.77
Previous Daily Pivot Point R2: 1242.65
Previous Daily Pivot Point R3: 1250.34
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