Gold Day Analys
Forex and gold is a market full of potential but also a lot of risk, so practice and equip yourself with the necessary knowledge.
Our pivot point stands at 1912.00.
Our preference
The upside prevails as long as 1912 is support.
Alternative scenario
The downside breakout of 1912 would call for 1901.50 and 1895.50.
Comment
The RSI is trading above 70. This could mean that either prices are in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is positive and above its signal line. The configuration is positive. Gold is above its 20 and 50 period moving average (respectively at 1911.30 and 1904).
Supports and resistances
1951.50 **
1945.50 *
1939.50 **
1933.00
1920.20 last
1916.00
1912.00 **
1901.50 *
1895.50 **
Number of asterisks represents the strength of support and resistance levels.
Our pivot point stands at 1912.00.
Our preference
The upside prevails as long as 1912 is support.
Alternative scenario
The downside breakout of 1912 would call for 1901.50 and 1895.50.
Comment
The RSI is trading above 70. This could mean that either prices are in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is positive and above its signal line. The configuration is positive. Gold is above its 20 and 50 period moving average (respectively at 1911.30 and 1904).
Supports and resistances
1951.50 **
1945.50 *
1939.50 **
1933.00
1920.20 last
1916.00
1912.00 **
1901.50 *
1895.50 **
Number of asterisks represents the strength of support and resistance levels.
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