XAU/USD breaks monthly PP at 1,213.84

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Positions Today Yesterday % Change
Longs 75% 72% 4.00%
Shorts 25% 28% -12.00%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Sell Sell
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Neutral Neutral Neutral
Alligator (13; 8; 5) Neutral Sell Sell
SAR (0.02; 0.2) Buy Sell Buy
Aggregate

During Thursday's trading session, the yellow metal broke the resistance of the monthly pivot point at the 1,213.84 to end the trading session at the 1,214.07 mark. On Friday morning, the gold was resisted by the 200-hour simple moving average to trade at the 1,215.63 mark. 

In regards to the near-term future, most likely, the gold will break the resistance of the 200-hour simple moving average at the 1,213.29 mark to trade at the 1,220.00 level.  

Besides, the 55-hour simple moving average will try to catch up the yellow metal to give additional support for the gold during the trading session on Friday.

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