“¢ The precious metal extended its intraday rejection slide from the $1300 neighbourhood and tumbled to fresh multi-week lows during the early European session on Monday. “¢ Friday’s sustained bearish break below 50-day SMA – for the first time since Nov. 2018, was seen as a key trigger behind a follow-through selling for the fourth straight session. “¢ The commodity has now dropped to 38.2% Fibo. level of the $1200-$1346 recent upsurge, also coinciding with a congestion zone held during the early part of January. “¢ Meanwhile, oscillators on the daily chart have just started gaining negative momentum and are still far from oversold territory, clearly pointing to an extension of the bearish trajectory. “¢ However, technical indicators on hourly charts are already pointing to highly oversold conditions and warrant some consolidation before any further near-term depreciating move. Gold daily chart XAU/USD Overview: Today Last Price: 1287.46 Today Daily change %: -0.22% Today Daily Open: 1290.34 Trends: Daily SMA20: 1318.29 Daily SMA50: 1300.8 Daily SMA100: 1264.79 Daily SMA200: 1236.14 Levels: Previous Daily High: 1315.26 Previous Daily Low: 1290.3 Previous Weekly High: 1332.58 Previous Weekly Low: 1290.3 Previous Monthly High: 1346.85 Previous Monthly Low: 1300.1 Daily Fibonacci 38.2%: 1299.83 Daily Fibonacci 61.8%: 1305.72 Daily Pivot Point S1: 1282.01 Daily Pivot Point S2: 1273.68 Daily Pivot Point S3: 1257.06 Daily Pivot Point R1: 1306.97 Daily Pivot Point R2: 1323.59 Daily Pivot Point R3: 1331.92 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 WTI: Bulls regain poise, back above $ 56 amid trade optimism, OPEC cuts FX Street 4 years "¢ The precious metal extended its intraday rejection slide from the $1300 neighbourhood and tumbled to fresh multi-week lows during the early European session on Monday. "¢ Friday's sustained bearish break below 50-day SMA - for the first time since Nov. 2018, was seen as a key trigger behind a follow-through selling for the fourth straight session. "¢ The commodity has now dropped to 38.2% Fibo. level of the $1200-$1346 recent upsurge, also coinciding with a congestion zone held during the early part of January. "¢ Meanwhile, oscillators on the daily chart… 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.
