Gold is flirting with the 50-hour SMA at $1,714. Wednesday’s Doji indicates indecision in the market place. A convincing move above Wednesday’s high is needed to confirm bullish revival. Gold has risen to the 50-hour simple moving average hurdle (SMA) hurdle but remains trapped within Wednesday’s trading range. At press time, the key average is located at $1,714. The yellow metal is up 0.30% on the day, having charted an indecisive Doji candle on Wednesday. A convincing move above the Doji candle’s high of $1,716 would validate the seller exhaustion signaled by that candlestick pattern and likely draw stronger bids, yielding a rally to the 10-day SMA, currently located at $1,728. Alternatively, a move below $1,693 (Wednesday’s low) would imply a continuation of the pullback from the May 18 high of $1,765 and would shift risk in favor of drop supports at $1,680. That level repeatedly restricted losses during the six days to May 7. A violation there would expose support at $1,658 (April 21 low). Daily chart Trend: Neutral Technical levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next USD/CAD: Bears keep baton near 11-week low above 1.3700 FX Street 3 years Gold is flirting with the 50-hour SMA at $1,714. Wednesday's Doji indicates indecision in the market place. A convincing move above Wednesday's high is needed to confirm bullish revival. Gold has risen to the 50-hour simple moving average hurdle (SMA) hurdle but remains trapped within Wednesday's trading range. At press time, the key average is located at $1,714. The yellow metal is up 0.30% on the day, having charted an indecisive Doji candle on Wednesday. A convincing move above the Doji candle's high of $1,716 would validate the seller exhaustion signaled by that candlestick pattern and likely draw stronger bids,… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
