“¢ The precious metal extended Friday’s retracement slide from near 3-1/2 month tops and remained under some selling pressure for the second consecutive session. “¢ The corrective slide has now dragged the commodity to a short-term ascending trend-channel support, which if broken might prompt fresh long-unwinding trade. “¢ Moreover, technical indicators on hourly charts have been drifting lower in the bearish territory; though managed to hold in positive territory on the daily chart. “¢ Hence, it would be prudent to wait for a convincing break through the mentioned trend-channel support before positioning for any further near-term corrective slide. Gold 4-hourly chart XAU/USD Overview: Last Price: 1225.05 Daily change: -3.9e+2 pips Daily change: -0.313% Daily Open: 1228.9 Trends: Daily SMA20: 1224.72 Daily SMA50: 1208.33 Daily SMA100: 1207.19 Daily SMA200: 1249.08 Levels: Daily High: 1235.42 Daily Low: 1223.9 Weekly High: 1243.43 Weekly Low: 1219.9 Monthly High: 1212.64 Monthly Low: 1180.63 Daily Fibonacci 38.2%: 1228.3 Daily Fibonacci 61.8%: 1231.02 Daily Pivot Point S1: 1223.39 Daily Pivot Point S2: 1217.89 Daily Pivot Point S3: 1211.87 Daily Pivot Point R1: 1234.91 Daily Pivot Point R2: 1240.93 Daily Pivot Point R3: 1246.43 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 GBP futures: probable U-turn near term? FX Street 4 years "¢ The precious metal extended Friday's retracement slide from near 3-1/2 month tops and remained under some selling pressure for the second consecutive session. "¢ The corrective slide has now dragged the commodity to a short-term ascending trend-channel support, which if broken might prompt fresh long-unwinding trade. "¢ Moreover, technical indicators on hourly charts have been drifting lower in the bearish territory; though managed to hold in positive territory on the daily chart. "¢ Hence, it would be prudent to wait for a convincing break through the mentioned trend-channel support before positioning… 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.
