Search ForexCrunch

   “¢   A fresh wave of global risk-aversion trade helped the precious metal staged a goodish bounce on Thursday and recover around 50% of the overnight slide to 1-1/2 week lows.

   “¢   The momentum lifted the commodity through 23.6% Fibo. level of the $1346-$1317 recent downfall, with bulls now eyeing a further appreciating move towards 100-hour SMA.

   “¢   Technical indicators on the 1-hourly chart have just started gaining positive traction and maintained their bullish bias on the daily chart, supporting prospects for additional gains.

   “¢   The set-up points to an extension of the positive momentum towards testing 38.2% Fibo. level resistance, around the $1328-30 region ahead of the Q4 US GDP figures.

Gold 1-hourly chart


       Today Last Price:  1324.87
       Today Daily change %:  0.36%
       Today Daily Open:  1320.1
       Daily SMA20:  1320.01
       Daily SMA50:  1299.06
       Daily SMA100:  1263.27
       Daily SMA200:  1235.57
       Previous Daily High:  1330.15
       Previous Daily Low:  1317.05
       Previous Weekly High:  1346.85
       Previous Weekly Low:  1320.72
       Previous Monthly High:  1326.25
       Previous Monthly Low:  1275.9
       Daily Fibonacci 38.2%:  1322.05
       Daily Fibonacci 61.8%:  1325.15
       Daily Pivot Point S1:  1314.72
       Daily Pivot Point S2:  1309.33
       Daily Pivot Point S3:  1301.62
       Daily Pivot Point R1:  1327.82
       Daily Pivot Point R2:  1335.53
       Daily Pivot Point R3:  1340.92