Gold seesaws near $1,491. 21-day EMA limits immediate upside amid bearish MACD. Despite its sustained trading below 21-day EMA, gold prices stay modestly changed around $1,491 during the early Asian session on Monday. The yellow metal clings to 38.2% Fibonacci retracement of July-September upside with the bearish signal from 12-bar Moving Average Convergence and Divergence (MACD) and extended trading under 21-day Exponential Moving Average (EMA) favoring sellers. In doing so, a monthly trend line, at $1,483, acts as immediate key support ahead of 50% Fibonacci retracement level of $1,469. It should, however, be noted that the quote’s further declines below $1,469 will be questioned by $1,455.50-$1,453 area including multiple lows since August 06 and 100-day EMA. Meanwhile, a daily closing beyond a 21-day EMA level of $1,495.62 can trigger fresh run-up to six-week-old falling resistance line, at $1,509. During the pair’s successful break above $1,509, late-September highs close to $1,535 will be the key to watch. Gold daily chart Trend: bearish 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 The EU will most likely wait with their decision to allow for events to unfold in London – Rabobank FX Street 3 years Gold seesaws near $1,491. 21-day EMA limits immediate upside amid bearish MACD. Despite its sustained trading below 21-day EMA, gold prices stay modestly changed around $1,491 during the early Asian session on Monday. The yellow metal clings to 38.2% Fibonacci retracement of July-September upside with the bearish signal from 12-bar Moving Average Convergence and Divergence (MACD) and extended trading under 21-day Exponential Moving Average (EMA) favoring sellers. In doing so, a monthly trend line, at $1,483, acts as immediate key support ahead of 50% Fibonacci retracement level of $1,469. It should, however, be noted that the quote's further declines below… 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.
