“¢ The commodity falls to fresh YTD lows and was being weighed down by a combination of negative factors – broad-based USD strength, Fed rate hike expectations, risk-on mood. “¢ The downfall has been alongside a downward sloping trend-channel formation on the daily chart and points to a continuation of the bearish trajectory. “¢ With short-term technical indicators gradually drifting towards near-term oversold conditions, bears are likely to pause near the trend-channel support, also coinciding with 200-week SMA. Gold daily chart Spot rate: 1238.29 Daily High: 1248.14 Daily Low: 1236.52 Trend: Bearish Resistance R1: $1241 (horizontal level) R2: $1248 (current day swing high) R3: $1252 (previous YTD weekly closing low) Support S1: $1236.52 (current day swing low) S2: $1234 (200-week SMA/descending trend-channel) S3: $1229 (horizontal level) 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 US: Import prices decreased 0.4% in June following May’s 0.9% increase FX Street 5 years "¢ The commodity falls to fresh YTD lows and was being weighed down by a combination of negative factors - broad-based USD strength, Fed rate hike expectations, risk-on mood. "¢ The downfall has been alongside a downward sloping trend-channel formation on the daily chart and points to a continuation of the bearish trajectory. "¢ With short-term technical indicators gradually drifting towards near-term oversold conditions, bears are likely to pause near the trend-channel support, also coinciding with 200-week SMA. Gold daily chart Spot rate: 1238.29 Daily High: 1248.14 Daily Low: 1236.52 Trend: Bearish Resistance R1:… 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.
