| Positions | Today | Yesterday | % Change | |
| Longs | 48% | 47% | 2.08% | |
| Shorts | 52% | 53% | -1.92% | |
| Indicator | 4H | 1D | 1W | |
| MACD (12; 26; 9) | Sell | Buy | Buy | |
| RSI (14) | Neutral | Neutral | Neutral | |
| Stochastic (5; 3; 3) | Sell | Sell | Sell | |
| Alligator (13; 8; 5) | Neutral | Neutral | Buy | |
| SAR (0.02; 0.2) | Buy | Sell | Buy | |
| Aggregate | ⇒ | ⇒ | ⇗ | |
The yellow metal was stranded in a narrow range between the 55-, 100– and 200-hour SMAs early on Friday. The bearish sentiment eventually took over the market as a result of which Gold breached the long-term moving average and subsequently fell down to the 1,290.00.
Technical indicators on the 1H and 4H time-frames demonstrate that there is still some downside potential that could be realised today. The nearest support is the 61.80% Fibonacci retracement and the lower boundary of a 1,5-year ascending channel at 1.285.00.
It is likely that bears still try to reach this level today prior to reversing to the upside and re-testing the 55-, 100– and 200-hour SMAs at 1,300.00 later in the week.